China Rare Earth Prices - March 10, 2023

China rare earth prices have shown a downward trend in the week ended on Friday, March 10, 2023. 

Although the two sessions emphasized the need to promote the high-quality development of the rare earth industry and the ability to support raw material prices to gradually increase, it is still difficult to offset the damage caused by weak downstream demand to the market, that is, in addition to few new orders In addition, the price drop of some rare earth products this week was even greater than last week.

According to Chinatungsten Online, the price of praseodymium and neodymium oxide dropped by about 38,000 yuan/ton this week, a drop of 5.71%; the price of praseodymium and neodymium metal dropped by about 50,000 yuan/ton, a drop of 6.21%; the price of gadolinium oxide dropped by about 45,000 yuan/ton, a drop of 12.68%; Terbium oxide dropped by about 1250 yuan/kg, a drop of 10.55%; dysprosium oxide dropped by about 80,000 yuan/ton, a drop of 3.90%; dysprosium-iron alloy dropped by about 85,000 yuan/ton, a drop of 4.15%; , a drop of 8.96%; NdFeB scrap NdPr dropped by about 60 yuan/kg, a drop of 8.57%.

The main reason that the market demand is difficult to improve is: the current performance of the automobile market is average and Tesla announced that the next generation of permanent magnet motors will not use rare earth materials at all, which is not conducive to the increase in the use of rare earth raw materials; The month-on-month decline in the listed prices of rare earths in the north also restrained the consumption desire of buyers to a certain extent.

In terms of news: public information shows that in permanent magnet synchronous reluctance motors, rare earth permanent magnets account for about 50% of the raw material cost of the entire motor, and each driving motor of a new energy vehicle generally requires 2-3.5kg of high-performance NdFeB permanent magnets Material. As a leading company in new energy vehicles, Tesla, if the next-generation permanent magnet motor does not use rare earth materials at all, it will reduce the amount of rare earth materials to a certain extent.

Prices of rare earth products on March 10, 2023

Picture of europium oxide

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