Prices of Light and Heavy Rare Earth Raw Materials Decreased in the First Week of 2024

In the first week back after the New Year in 2024, the overall performance of the Chinese rare earth market is relatively poor, with a general decline in the prices of mainstream light and heavy rare earth raw materials and limited actual transaction volume. 

This is mainly due to weak downstream demand, insufficient support from production cost, and a significant month-on-month decrease in the listing price of northern rare earths this month.

However, looking at the long term, many industry players still have high expectations for the future, such as Xiamen Tungsten. Xiamen Tungsten has recently been actively expanding its rare earth business, with plans to increase capital with China Rare Earth by 100 million yuan and with Chifeng Gold by 340 million yuan.

According to statistics from Chinatungsten Online, the current price of praseodymium-neodymium oxide has decreased by about 31,000 yuan/ton compared to the end of 2023, with a decrease of 6.83%. The price of praseodymium-neodymium metal has decreased by about 19,000 yuan/ton, with a decrease of 3.49%. The price of terbium oxide has decreased by about 900 yuan/kg, with a decrease of 11.54%. The price of dysprosium oxide has decreased by about 200,000 yuan/ton, with a decrease of 7.694%. The price of 55N neodymium iron boron ingots has decreased by about 5 yuan/kg, with a decrease of 2.13%. The price of neodymium iron boron waste (praseodymium-neodymium) has decreased by about 20 yuan/kg, with a decrease of 4.35%. It can be seen that, with the sharp decline in rare earth raw material prices, the prices of rare earth permanent magnet materials and their waste have also fallen accordingly.

Prices of rare earth products on January 5, 2024

Picture of praseodymium oxide

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