The Ganzhou Rare Earth Industry Association on Tuesday cut guide price of ionic rare earth ores for early July bookings, marking the first cut since May.
After the reform on resource tax, rare earth prices continuously increased. However, the domestic rare earth market was persistently sluggish amid weak purchases from downstream users. Prices of rare earths would likely fall in the future after the continuous rise, said industry insiders.
The following table shows details of the price adjustment by the association. (Unit: yuan/tonne)
|
Item |
Adjustment range |
Price after adjustment |
|
Medium-yttrium and rich-europium |
Down 20,000-30,000 |
190,000 |
|
Longnan high-yttrium ore |
Down 20,000 |
200,000 |
|
Anyuan high-yttrium ore |
Down 20,000 |
190,000 |
|
Xunwu low-yttrium and low-europium |
Down 10,000 |
130,000 |
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