The Price of Rare Earth Raw Materials - September 6, 2024

Chinese rare earth market is relatively good this week, mainly reflected in the significant increase in the price of mainstream rare earth raw materials and the increase in spot trading volume compared with the previous period. 

The favorable factors include: First, the listing price of rare earth in the north this month has increased month-on-month, which has greatly boosted market confidence; second, in the "golden September and silver October" consumption peak season and the current rare earth prices are still at a relatively low level, many buyers are willing to enter the market for consumption; third, the problem of oversupply in the market is expected to be alleviated, because the growth rate of the second batch of rare earth indicators this year has slowed down and the country has gradually improved the system and mechanism to promote consumption.

According to statistics from Chinatungsten Online, the current price of praseodymium-neodymium oxide has increased by about 26,000 yuan/ton compared with last week, an increase of 6.45%; the price of praseodymium-neodymium metal has increased by about 33,000 yuan/ton compared with last week, an increase of 5.71%; the price of terbium oxide has increased by about 310 yuan/kg compared with last week, an increase of 5.71%; the price of dysprosium oxide has increased by about 80,000 yuan/ton compared with last week, an increase of 4.65%; the price of 55N NdFeB blank blocks has increased by about 9 yuan/kg compared with last week, an increase of 4.50%; the price of NdFeB scrap praseodymium-neodymium has increased by about 23 yuan/kg compared with last week, an increase of 5.17%. It can be seen that the price of mainstream rare earth raw materials has increased significantly this week, and driven by the increase in raw material prices, the prices of rare earth permanent magnet materials and their scraps have also risen significantly.

In terms of news, on September 6, Shenzhen issued the "Implementation Plan for Shenzhen's Ultra-Long-Term Special Treasury Bond Funds to Support the Replacement of Old Consumer Goods for New Consumer Goods", which pointed out that the ultra-long-term special treasury bond funds directly issued by the central government to local governments and the municipal fiscal matching funds should be arranged in a coordinated manner, focusing on the fields of automobiles, home appliances, home decoration, etc., and fully promoting the replacement of old consumer goods for new consumer goods. By the end of 2024, about 70,000 cars will be replaced for new ones (including 60,000 replacements and 10,000 scrapped and updated), about 1 million home appliances will be sold, about 51,000 households will be transformed and replaced with home decoration and other products, about 250,000 electric bicycles will be updated, and about 1,300 operating trucks and urban buses will be updated, continuously releasing investment and consumption potential.

Prices of rare earth products on September 6, 2024

Picture of erbium oxide

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