Neodymium Oxide Price - January 8, 2024

At the beginning of the week, prices of mainstream light and heavy rare earths in China continued to decline. The price of neodymium oxide decreased by approximately 5,000 yuan per ton, the price of gadolinium oxide decreased by approximately 2,000 yuan per ton, and the price of dysprosium oxide decreased by approximately 50,000 yuan per ton. 

This is mainly attributed to relatively stable production on the supply side, while there is no clear improvement in demand, and the operating rates of most magnetic materials companies range from 35% to 60%. However, as some product prices are approaching the cost line and the Chinese government continues to promote the development of the rare earth industry, some industry participants still have high expectations for the rare earth market in 2024.

In terms of news, data from the National Bureau of Statistics shows that the Purchasing Managers' Index (PMI) for the manufacturing sector in December 2023 was 49.0%, a decrease of 0.4 percentage points from the previous month, indicating a slight decline in the manufacturing industry's business activity. When looking at enterprise sizes, the PMI for large enterprises was 50.0%, a decrease of 0.5 percentage points from the previous month, hovering at the critical point. The PMI for medium-sized and small enterprises was 48.7% and 47.3%, respectively, decreases of 0.1 and 0.5 percentage points from the previous month, both below the critical point. Specifically, the new order index was 48.7%, a decrease of 0.7 percentage points from the previous month, indicating a decline in demand in the manufacturing industry market.

Prices of rare earth products on January 8, 2024

Picture of lanthanum oxide

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