Chinese Rare Earth Market - December 27, 2024

This week, the Chinese rare earth market exhibited a pattern of decline followed by a rebound. 

Early in the week, prices for mainstream light and heavy rare earth products continued their downward trend from last week due to weak downstream demand and diminished supportive factors. Specifically, praseodymium-neodymium metal prices dropped by approximately 7,000 RMB/ton, and terbium oxide prices decreased by about 50 RMB/kg. However, nearing the weekend, as production costs provided stronger support and downstream users increased their willingness to restock, mainstream product prices began to stabilize and rebound, although the rebound was limited in scope.

According to China Tungsten Online, current prices are as follows:

Praseodymium-neodymium oxide: up by 3,000 RMB/ton from last week, an increase of 0.75%.

Praseodymium-neodymium metal: down by 1,000 RMB/ton, a decrease of 0.20%.

Terbium oxide: down by 10 RMB/kg, a decrease of 0.18%.

Dysprosium oxide: down by 10,000 RMB/ton, a decrease of 0.62%.

Prices for 55N neodymium-iron-boron blanks and neodymium-iron-boron scrap praseodymium-neodymium remained unchanged from last week.

These fluctuations suggest that the weekly price decreases and increases for praseodymium, neodymium, terbium, and dysprosium were relatively balanced.

Industry News:

On December 25, a strategic cooperation agreement signing ceremony was held between China GRINM Group Corporation (General Research Institute for Nonferrous Metals) and BYD at BYD's headquarters in Pingshan, Shenzhen. BYD Chairman and President Wang Chuanfu emphasized that with the rapid development of the new energy vehicle (NEV) industry in critical areas such as lightweight materials, energy efficiency, and intelligent systems, market demand for nonferrous metal materials such as aluminum, copper, silicon, and rare earths is steadily increasing.

This strategic partnership aims to deepen collaboration in areas including technological innovation, product development, market expansion, and talent cultivation. Both parties will work to build a stronger bridge between the application needs of the NEV industry and scientific research and technology. The goal is to drive the transformation and upgrading of China's automotive industry chain and enhance the international competitiveness of Chinese automobiles.

Prices of rare earth products on December 27, 2024

Picture of erbium oxide

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