Supply cuts to support China’s yttrium prices

摘要

Chinese yttrium oxide prices are expected to rise further in the near term, supported by tightening spot availability after months of inventory consumption and renewed stockpiling demand from domestic and international consumers, according to market participants. The yttrium oxide market maintained its upward momentum in the past week, reaching the highest level since September 2015. Argus assessed the 99.999pc yttrium oxide range higher at 28,000-30,000 yuan/t ($4,330-4,640/t) ex-works today, up by around 55pc at the mid-point from Yn18,000-19,500/t ex-works in late August. Price hikes accelerated this week, rising by 40pc at the mid-point from Yn20,000-22,000/t ex-works earlier in the week, driven by reduced spot supplies of high-purity yttrium oxide and stronger demand in and outside of China.