Shanghai, October 13 (SMM)-Despite weak trading, rare earth market prices rose sharply this week. However, most traders are optimistic about the future development trajectory, which suppresses goods and supports spot prices.

As of October 12, the transaction price of praseodymium oxide has risen to 605,000 yuan/ton, and it is difficult to find the spot at a price lower than 605,000 yuan/ton. The highest quotation is 608,000 yuan/ton. The transaction price of PrNd alloy also rebounded, with partial credit transactions of 755,000 yuan/ton and cash transactions of 748,000 yuan/ton. Some magnetic material companies also decided to increase their quotations. However, the prices of other light rare earth products are relatively stable.

In terms of medium and heavy rare earths, the transaction price of terbium oxide is between 890-895 million yuan/ton, and the transaction price of dysprosium oxide is mostly between 2.72-275 million yuan/ton; the prices of terbium metal and dysprosium iron also rose slightly. Part of the major manufacturers of terbium metals quoted 11.5-11.6 million yuan/ton, and dysprosium iron quoted prices of 2.74-2.75 million yuan/ton. The overall trading of metals has calmed down.

Among other medium and heavy rare earths, the prices of gadolinium, erbium, yttrium and holmium have all risen sharply. Among them, the price of erbium oxide has reached 230,000 yuan/ton, a new high since the beginning of this year. There are rumors that some magnetic material companies use erbium iron instead of holmium iron to produce magnetic materials.

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