Rare Earth Price in China - April 3, 2020

The rare earth price in China was in the downward trend in the week ended on Friday April 3, 2020 due to sluggish demand both at home and abroad. Market participants held negative view on the market and declined their offers for most products. 

In the light rare earth market, affected by the coronavirus, many foreign automakers' factories suspended production. The sharp decline in oil prices and in U.S. stocks also has had a greater impact on market confidence. But domestic new energy vehicle consumption stimulus policies and high raw material prices still offered support for the market. The medium and heavy rare earth market was weak on persistent weakness in the demand side. Prices tended to decline, but some sellers were reluctant to sell on deduced imports of raw materials from Myanmar. 

China exported 5,489 tons of rare earths from January to February 2020, a year-on-year decrease of 17.3%; the average export price fell 30% year-on-year. Among them, the export volume of rare earth permanent magnets was 4,646 tons, a decrease of 4.3% from 4,852 tons in the same period last year, but exports to the United States increased by 13% to 641.2 tons, while exports to Germany increased, according to the data released by customs. 

Prices of rare earth products on April 3, 2020

Picture of praseodymium oxide

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