Chinese Rare Earth Market – Dec. 13, 2024

This week, Chinese rare earth market exhibited a generally weak trend, with slight differences in price movements between major light and heavy rare earth products. 

While praseodymium-neodymium prices remained relatively stable, dysprosium and terbium prices showed a downward trend. According to statistics from China Tungsten Online:

Praseodymium-neodymium oxide prices decreased by approximately RMB 2,000/ton from last week, a 0.48% decline.

Praseodymium-neodymium metal prices fell by approximately RMB 3,000/ton, a 0.59% decline.

Terbium oxide prices dropped by approximately RMB 110/kg, a 1.90% decline.

Dysprosium oxide prices decreased by approximately RMB 40,000/ton, a 2.40% decline.

55N NdFeB rough blocks and NdFeB scrap praseodymium-neodymium prices remained unchanged from last week.

Market Analysis:

In the praseodymium-neodymium market, overall demand fell short of expectations. However, several factors, including active inquiries and purchases by some large magnet companies and steady pricing by Northern Rare Earth this month, contributed to praseodymium-neodymium suppliers maintaining a strong sentiment of holding back stock and supporting prices.

In the dysprosium-terbium market, weak downstream demand and raw material sellers' focus on cash flow made it difficult for product prices to rise. Notably, despite the ongoing closure of the Myanmar border, the relatively ample supply of spot market inventory has prevented any significant impact on China's medium and heavy rare earth supply chain.

Additional Information:

According to data from the Ministry of Industry and Information Technology (MIIT):

In November 2024, China's automobile production and sales reached 3.437 million units and 3.316 million units, respectively, marking year-on-year increases of 11.1% and 11.7%.

Production and sales of new energy vehicles (NEVs) reached 1.566 million units and 1.512 million units, respectively, with year-on-year growth rates of 45.8% and 47.4%.

In November, China's automobile exports totaled 490,000 units, a year-on-year increase of 1.6%, while NEV exports stood at 83,000 units, down 14.1% compared to the same period last year.

Prices of rare earth products on December 13, 2024

Picture of neodymium oxide

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