Cerium Oxide Price - April 29, 2021

Rare earth market quotation in China: terbium oxide and praseodymium neodymium oxide prices continue to decline while cerium oxide price remains unchanged on April 29, 2021 affected by low trading activity in the whole market. 

Supported by favorable factors and production costs, suppliers’ quotations have adjusted by a smaller margin. There are some favorable factors in the market. Firstly, due to the high pressure of environmental protection, the production capacity of rare earth smelting enterprises is limited, coupled with the high geopolitical risks of various countries and limited export volume, domestic factories mainly remain slow growth of inventories; secondly, affected by good expects for the development of automobiles, wind power, and frequency conversion, in the future, the market is expected to have a greater demand for rare earth functional materials, which in turn triggers most industry players to be optimistic about the market.

In the first quarter of this year, the industrial added value of Guangdong's regulations increased by 28.9% year-on-year, which was 4.4 percentage points higher than the national level (24.5%); it increased by 9.4% compared with the same period in 2019, with an average growth rate of 4.6% in two years; it increased by 10.2% in March. 

The growth rate of industrial added value under the regulations is 10.3 percentage points higher than the growth rate of GDP (18.6%), and its contribution rate to GDP growth reaches 41.2%. Among them, the added value of the automobile manufacturing industry increased by 62.7% year-on-year, the added value of the electrical machinery and equipment manufacturing industry increased by 42.1% year-on-year, the added value of the petrochemical industry increased by 26.4% year-on-year, and the added value of the electronic information industry increased by 18.7% year-on-year.

Prices of rare earth products on April 29, 2021

Picture of cerium oxide

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