SHANGHAI, Aug 5 (SMM) – The prices of PrNd alloy also dropped to 925,000-930,000 yuan/mt, down 18% from 1.13 million yuan/mt early in July 5.
The prices of Dysprosuim also dropped to 3075-3100yuan/kg, down 8% from 3250-3350 yuan/kg early in July 5.
The prices of also dropped to 17475yuan/kg, down 2% from 17850 yuan/kg early in July 5.
MCE MAGNET analyse: Due to the continued weak downstream demand, the new orders of magnetic material companies were insufficient, which led to less purchasing interest in PrNd alloy. As the raw material of PrNd alloy, PrNd oxide also saw a reducing demand. Some metal mills only restocked as needed and the actual trades were poor. Some traders were cautious on the sidelines with bearish sentiments towards the market outlook.
(Source: SMM)