China Rare Earth Price - November 5, 2021

China rare earth price remained strong in the week ended on Friday, November 05, 2021. Although there have been slight declines in the prices of individual products, it is still difficult to divert the attention of the industry. 

In the light rare earth market, the buying and selling atmosphere on the market is good. The downstream users are more enthusiasm for inquiries and purchases and the supply of raw materials continues to tighten, which is the main source of motivation to support the increased confidence of the holders to reluctantly sell and keep prices.

In the medium and heavy rare earth market, the overall bullish outlook sentiment is strong. In addition to the high activity of the light rare earth market, which has played a role in boosting the warming of the heavy rare earth market, some separation plants in the south have been shut down due to lack of minerals and the customs clearance time of Myanmar mines has not yet been determined, and the supply is also greatly increased. The desire of traders to raise prices.

In the third quarter of 2021, China imported and exported 51,000 tons of various rare earth and rare earth magnetic materials, resulting in a trade volume of 8.05 billion yuan. Among them, the export of various rare earth products was 11,812 tons, a month-on-month increase of 2.3%, and the total export value reached 1.09 billion yuan, a month-on-month increase of 4.8%; the import of various rare earth products was 24,124 tons, a month-on-month decrease of 16.8%, and the total import amount reached 1.14 billion yuan, a month-on-month increase. A reduction of 55.4%. Exports of rare earth magnetic materials amounted to 14,553 tons, an increase of 2.3% from the previous month, and the total export value reached 5.35 billion yuan, an increase of 9.8% from the previous month; the import of rare earth magnetic materials was 768 tons, a decrease of 12.3% from the previous month, and the total import amount reached 340 million yuan, an increase of 7.6% from the previous month.

Prices of rare earth products on November 5, 2021

Picture of rare earth permanent magnet materials

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