Chinese Rare Earth Market - November 29, 2024

This week, the Chinese rare earth market showed a mixed pattern, with prices fluctuating up and down. In the context of a relatively balanced supply-demand relationship and limited support from macroeconomic positive news, traders largely maintained rigid transactions, focusing primarily on the situation of northern rare earth auction prices in December.

At the beginning of the week, in order to avoid the risk of cost-profit inversion and due to the impact of the Myanmar border blockade, suppliers of praseodymium (Pr), neodymium (Nd), dysprosium (Dy), and terbium (Tb) significantly raised their quotes. However, due to weak downstream demand and an increased awareness among holders to realize profits, the prices of these products adjusted downward again. Despite this, the downward adjustment was limited due to the support from production costs.

According to statistics from Chinatungsten Online, the current price of praseodymium-neodymium oxide has increased by about 4,000 yuan/ton compared to last week, a rise of 0.98%; the price of praseodymium-neodymium metal has increased by about 2,000 yuan/ton, a rise of 0.39%; the price of terbium oxide has increased by about 60 yuan/kg, a rise of 1.04%; the price of dysprosium oxide remained stable compared to last week; the price of 55N neodymium iron boron (NdFeB) sintered magnets decreased by about 3 yuan/kg, a drop of 1.46%; the price of praseodymium-neodymium in neodymium iron boron scrap remained unchanged compared to last week. Therefore, it can be seen that the increase in rare earth raw material prices this week was slightly larger than the decrease.

In terms of news, data from the National Bureau of Statistics shows that from January to October, the total profit of industrial enterprises above the designated size nationwide was 5.86804 trillion yuan, a year-on-year decrease of 4.3%; operating revenue reached 110.96 trillion yuan, a year-on-year increase of 1.9%. By the end of October, the asset-liability ratio of industrial enterprises above the designated size was 57.7%, a decrease of 0.1 percentage points year-on-year.

Prices of rare earth products on November 29, 2024

Picture of neodymium oxide

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