Rare Earth Market Update: November 20, 2024

The domestic rare earth market continues to exhibit a downward adjustment trend, with prices for key products experiencing varying degrees of decline:

Praseodymium-Neodymium Oxide: Decreased by approximately 1,000 RMB/ton; Praseodymium-Neodymium Metal: Decreased by approximately 2,000 RMB/ton; Terbium Oxide: Decreased by approximately 60 RMB/kg; Dysprosium Oxide: Decreased by approximately 10,000 RMB/ton; 

Despite the recent drop in rare earth raw material prices, this has not significantly boosted purchasing enthusiasm among downstream users, resulting in limited market transactions. Notably, prices for rare earth permanent magnetic materials and their scrap have not declined in tandem with raw material prices, which has bolstered the confidence of raw material suppliers in maintaining their price levels, leaving little room for price negotiation.

Factors Driving the Price Adjustment

Weak Downstream Demand and Tight Liquidity:

Sluggish demand from downstream industries and financial constraints have led many suppliers to lower prices in an effort to move inventory.

Declining Policy Support:

Favorable policy effects have weakened over time. On October 1, 2024, China implemented the Rare Earth Management Regulation to regulate the industry, ensure rational development and utilization of rare earth resources, and promote sustainable growth.

Industry News

Recently, Northern Rare Earth successfully passed compliance management system certification under both international (ISO 37301:2021) and domestic (GB/T 35770-2022) standards, becoming the first state-owned enterprise in Inner Mongolia to achieve dual compliance certification. This certification covers the company’s core operations in the production and sales of rare earth products, reflecting its strengthened regulatory compliance practices.

In summary, while the rare earth market remains subdued due to weak demand, limited liquidity, and diminishing policy effects, firm pricing in the permanent magnet material sector provides some confidence to suppliers. Future developments will likely hinge on shifts in downstream demand and broader market conditions.

Prices of rare earth products on November 20, 2024

Picture of erbium oxide

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