The Ganzhou Rare Earth Industry Association has just raised the guide price of ionic rare earth ores for late October bookings, the first price hike after three cuts since late June.
Compared to that in late August, the guide price of rare earth ores was raised by 10,000 yuan/metric ton (tonne).
The following table shows details of the price adjustment by the association. (Unit: yuan/tonne)
|
Item |
Price for late Oct. |
Price adjustment compared to late Aug. |
|
Medium-yttrium and rich-europium |
180,000 |
Up 10,000 |
|
Longnan high-yttrium ore |
190,000 |
Up 10,000 |
|
Anyuan high-yttrium ore |
180,000 |
Up 10,000 |
|
Xunwu low-yttrium and low-europium |
110,000 |
Up 10,000 |
Downstream users' demand for ore purchases to replenish stocks in the winter will likely support the rare earth prices to rebound in a limited range. However, due to earlier price recovery, despite the increase in the guide price, market participants responded mutedly, said analysts of the Shanghai Metals Market (SMM), a leading metal information provider in China.
It is worth noting that under the circumstances of the sluggish prices and oversupplies, the Chinese authorities were ready to launch a campaign to crack down on illegal rare earth mining and production in November, which will cap market supplies and help the ore prices pick up.
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