Chinese Rare Earth Market - December 6, 2024

This week, the Chinese rare earth market has not shown any significant changes. With traders maintaining rigid transactions and market support gradually weakening, product prices have fluctuated within a narrow range, while order growth has been slow.

According to statistics from Chinatungsten Online, the current price of praseodymium and neodymium oxide has decreased by about 1,000 yuan per ton compared to last week, a drop of 0.24%. The price of terbium oxide has fallen by about 60 yuan per kilogram, a decrease of 1.03%. The prices of praseodymium and neodymium metal, dysprosium oxide, 55N neodymium-iron-boron rough blocks, and neodymium-iron-boron scrap have remained stable compared to last week.

Market favorable factors include: first, strong support from production costs and the positive outlook for downstream rare earth industries such as robotics and new energy, which have led many suppliers to maintain high price expectations; second, the northern rare earth auction prices have remained flat month-on-month.

In terms of news, according to information from the Baotou Municipal Bureau of Industry and Information Technology, among the eight key rare earth products monitored in November 2024, four saw price stability month-on-month, while four saw declines. The largest decrease was in rare earth carbonate, with an average price of 33,825 yuan per ton, a decrease of 731 yuan per ton or 2.1% compared to the previous month, and a year-on-year drop of 6,263 yuan per ton or 15.6%. One product saw a price increase year-on-year, while seven products saw price declines, with the largest year-on-year decrease in the price of metallic neodymium.

Prices of rare earth products on December 6, 2024

Picture of erbium oxide

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