In recent days prices of praseodymium/neodymium oxide have increased in China and a higher increase is expected. Therefore, many suppliers still refuse selling their stocks at this time.

Given the last week rising prices of RMB318, 000- 320000 / tonne ($ 50.877 to 51.197 / ton export duty of 15%) buyers are accepting prices RMB323, 000-325,000 / tonne ($ 51.677 -51.997 / tonne for 15% of export duties) for 99% praseodymium oxide / neodymium oxide to replenish their supplies.

Prices on the rise

Several producers have little stocks left now so they will have some extra output to supply towards the end of the month. Consequently, lots of suppliers have retained much of their stock awaiting a rise much higher in the coming days on support from the tight availability in spot market.

In the meantime, suppliers have also raised offers for 99% praseodymium/neodymium metal to about RMB420, 000/tonne ($67,196/tonne before 25% export duty) and prices of RMB410, 000-415,000/tonne ($65,596-66,396/tonne before 25% export duty) have been accepted by buyers who want to replenish stocks now.

Some suppliers admitted that demand for metal NdFeB Rare Earth is much less active than expected. However, an increase in prices in the near future is also expected  causing an increase even higher in the price of praseodymium / neodymium oxide.

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