Rare earth prices climbed on Tuesday as Chinese authorities lately launched a new round of investigations in the rare earth industry, mainly targeting at waste recycling plants.
The praseodymium-neodymium alloy price rose 3,000 yuan/tonne to average at 330,000 yuan/tonne on Wednesday, while dysprosium price and terbium price increased about 100 yuan/kg respectively.
The investigations are scheduled to last from November 1 to December 20. China Merchants Securities said the move would look into illegal behaviors in 79 plants across the five provinces of Jiangxi, Anhui, Jiangsu, Hunan and Guangdong, involving about 170,000 tonnes of neodymium iron boron recycling capacities that contain some 40,000 tonnes of neodymium.
Earlier, the authorities spent about six months investigating against illegal behaviors in the upstream plants in the rare earth industrial chain.
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