China’s Domestic Rare Earth Price - June 20, 2022

At the beginning of the week, China’s domestic rare earth price was generally in a narrow range. Affected by the relative balance between supply and demand, traders were generally less motivated to enter the market.

Suppliers were not in a hurry to ship, while downstream users were not in a hurry to purchase, so transactions were light. In the short term, market conditions may remain tepid.

According to Chinatungsten Online, the main reasons for the weak supply and demand in the rare earth market are: affected by the recent extreme weather and the relatively high prices of commodities such as crude oil and energy, the rare earth production capacity is relatively limited, which is conducive to suppliers’ quotations; When economic growth is not yet completely stable, consumers basically maintain rigid demand.

In terms of news: According to Inner Mongolia SASAC information, in 2021, Baotou Steel Group will produce 111,700 tons of rare earth smelting and separation processing products, a year-on-year increase of 9.34%; rare earth functional materials 76,000 tons (including entrusted processing), a year-on-year increase of 28.24%; The sales volume of rare earth smelting and separation processing products converted into oxides was 136,700 tons, a year-on-year increase of 32.59%; the sales volume of rare earth functional materials was 66,700 tons, a year-on-year increase of 9.88%.

Prices of rare earth products on June 20, 2022

Picture of rare earth permanent magnet materials

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