Squeezed profits to support China's Pr/Nd prices

摘要

Squeezed profit margins are expected by market participants to stabilise prices for praseodymium-neodymium metal for the rest of June after consecutive drops since the start of the month. Argus assessed the range for 99pc praseodymium-neodymium metal at 580,000-585,000 yuan/t ($90.77-91.55/kg) ex-works today, down by Yn5,000/t from yesterday, and by more than 20pc from Yn725,000-735,000/t ex-works on 28 March, following a market correction from rising prices in the first quarter driven by renewed stockpiling demand from magnetic material manufacturers and trading firms. The fall is also the result of subdued restocking demand from the magnet sector as the summer lull season approaches.