Holmium Oxide Price - November 18, 2024

At the beginning of the week, the domestic rare earth market remained weak overall. Prices for terbium oxide, holmium oxide, and dysprosium-iron alloy dropped by approximately 70 yuan/kg, 2,000 yuan/ton, and 20,000 yuan/ton, respectively. 

This decline was primarily attributed to weaker-than-expected demand from downstream and end customers, the anticipated increase in short-term imports of rare earth minerals from Myanmar, and the relatively abundant availability of certain raw materials in the market. However, some suppliers were reluctant to lower prices significantly, supported by strong production costs and the month-on-month increase in northern rare earth reference prices.

News Update

According to data from the National Bureau of Statistics, in October 2024, the industrial added value of enterprises above a designated size increased by 5.3% year-on-year, a slight decrease of 0.1 percentage points from the previous month, with a month-on-month growth of 0.41%.

Sector Performance:

Mining Industry: Output increased by 4.6% year-on-year; Manufacturing: Output grew by 5.4% year-on-year; Electricity, Heat, Gas, and Water Production and Supply: Growth of 5.4% year-on-year; Equipment Manufacturing: Added value increased by 6.6% year-on-year; High-Tech Manufacturing: Posted a 9.4% year-on-year growth rate.

Key Product Highlights:

New Energy Vehicles (NEVs): Production surged by 48.6% year-on-year.

Industrial Robots: Output rose by 33.4% year-on-year.

Integrated Circuits: Production increased by 11.8% year-on-year.

These figures underscore the continued growth momentum in high-tech and green energy sectors, which play a crucial role in supporting long-term demand for rare earth materials. However, the market remains challenged by short-term supply-demand imbalances.

Prices of rare earth products on November 18, 2024

Picture of praseodymium oxide

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