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SMM Rare Earth Weekly Survey: Rare Earth Prices Expected To Remain Stable (24-28 Jun. 2013)

SHANGHAI, Jul. 1 (NYSE:SMM) - SMM sources revealed that China's rare earth market was mainly influenced by the crackdown on illegal mines in Ganzhou and reports about purchases of the State Reserve Bureau.

Prices were RMB 27,000/mt for lanthanum oxide, RMB 27,500/mt for cerium oxide, RMB 371,500/mt for praseodymium oxide, RMB 255,000/mt for neodymium oxide, RMB 269,000/mt for didymium oxide, RMB 3,500/kg for europium oxide, RMB 1,430/kg for dysprosium oxide, RMB 127,600/mt for gadolinium oxide, RMB 51,500/mt for cerium misch metal, RMB 358,000/mt for praseodymium-neodymium alloy and RMB 1,430,000/mt for dysprosium-iron alloy.

SMM believes rare earth prices should hold steady this week as end users' demand remained unimproved and speculative mood dissipating.