Chinese Rare Earth Market Update for December 11, 2024

Details: Category: Tungsten's News; Published on Thursday, 12 December 2024 18:31; Hits: 26

The domestic Chinese rare earth market is experiencing a downward trend:

Praseodymium Oxide prices dropped by approximately 4,000 RMB/ton.

Praseodymium-Neodymium Metal prices decreased by about 3,000 RMB/ton.

Terbium Oxide prices declined by approximately 70 RMB/kg.

Holmium Oxide prices fell by around 5,000 RMB/ton.

Dysprosium Oxide prices dropped significantly by about 40,000 RMB/ton.

The decline is mainly attributed to the market's difficulty in recovering in the short term and the willingness of many suppliers to lower prices for quicker sales and cash flow recovery, reflecting weakened confidence in maintaining stable prices. However, the extent of price reductions has been limited due to production cost support and optimistic prospects for downstream rare earth industries.

Notably, despite the significant drop in raw material prices, market demand has not shown a clear increase, and inquiries from magnet manufacturers remain limited.

Additional Information:

According to data from the National Bureau of Statistics, in November 2024:

The Producer Purchase Price Index (PPI) decreased by 2.5% year-on-year and 0.1% month-on-month.

Prices for specific categories showed the following trends:

Ferrous metal materials: -7.1% year-on-year.

Fuel and power: -6.5% year-on-year.

Chemical raw materials: -5.0% year-on-year.

Agricultural and sideline products: -3.8% year-on-year.

Building materials and non-metal products: -2.7% year-on-year.

Textile raw materials: -1.7% year-on-year.

Non-ferrous metal materials and wires: +11.0% year-on-year.

Prices of rare earth products on December 11, 2024