Chinese Rare Earth Prices - March 22, 2024

Chinese rare earth prices showed a pattern of first decline and then rebound. At the beginning of the week, affected by the slow downstream demand follow-up and the tentative price increase of mainstream products near the end of last week, suppliers were offering discounts.

However, due to the continued presence of favorable factors, the decline in product prices was limited. Towards the end of the week, with the increase in downstream users' willingness to purchase on dips, suppliers raised their prices again, but the increase was small, resulting in prices of many products near the end of the week being slightly lower than at the beginning of the week.

According to statistics from CTIA GROUP LTD, the current prices of rare earth materials have decreased compared to last week: praseodymium-neodymium oxide prices have decreased by approximately 2,000 yuan per ton, a decrease of 0.57%; praseodymium-neodymium metal prices have decreased by approximately 8,000 yuan per ton, a decrease of 1.84%; terbium oxide prices have decreased by approximately 50 yuan per kilogram, a decrease of 0.93%; dysprosium oxide prices have decreased by approximately 20,000 yuan per ton, a decrease of 1.09%; the price of 55N neodymium iron boron blanks remained unchanged compared to last week; the price of neodymium iron boron scrap (praseodymium-neodymium) has decreased by approximately 2 yuan per kilogram, a decrease of 0.53%. It can be seen that the price decline of rare earth raw materials and their permanent magnet materials this week is not significant.

In terms of news: According to data from the National Bureau of Statistics, in January-February 2024, China's excavator production was 40,638 units, a decrease of 0.2% year-on-year; the production of small, medium, and large tractors was 20,743 units, 49,982 units, and 270,000 units respectively, with year-on-year changes of +8.5%, -8.0%, and +8.0% respectively. In January-February 2024, China's automobile production was 3.835 million vehicles, an increase of 4.4% year-on-year; Guangdong ranked first in production with 525,700 vehicles, followed by Chongqing with 356,300 vehicles.

Prices of rare earth products on March 22, 2024

Picture of praseodymium oxide

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