Chinese Rare Earth Market - December 15, 2023

This week, the overall Chinese rare earth market is not performing well. Amid the interweaving of various factors affecting the market, the trading atmosphere remains subdued. 

Additionally, the price trends of light and heavy rare earths continue to differ: Praseodymium and neodymium (PrNd) prices are consistently declining, while dysprosium and terbium prices are consolidating within a narrow range.

According to information from Chinatungsten Online, the current price of PrNd oxide has decreased by approximately 16,000 yuan/ton compared to last week, with a decrease of 3.43%. The price of PrNd metal has decreased by approximately 20,000 yuan/ton, with a decrease of 3.48%. The price of terbium oxide has increased by approximately 50 yuan/kg, with an increase of 0.63%. The price of dysprosium oxide has decreased by approximately 50,000 yuan/ton, with a decrease of 1.84%. The price of 55N NdFeB (neodymium iron boron) blank has decreased by approximately 10 yuan/kg, with a decrease of 4.08%. The price of NdFeB waste (PrNd) has decreased by approximately 20 yuan/kg, with a decrease of 4.08%. It is evident that the decline in PrNd prices is more significant than that of dysprosium and terbium prices. Additionally, influenced by the decline in PrNd prices, the prices of NdFeB blank and its waste have also decreased.

Factors influencing the current rare earth market include: Firstly, in the current complex and volatile global economic situation, the operating rates of magnetic material enterprises are relatively low. This has led to intense competition among light rare earth enterprises at lower prices in exchange for more order volumes. Secondly, with weak downstream demand, rare earth manufacturers are maintaining normal production, coupled with a considerable amount of overseas ore imports, making spot supplies in the market more abundant.

In terms of news, data from the National Bureau of Statistics shows that in November 2023, the year-on-year growth of added value for industries above a designated size in China was 6.6%, an increase of 2.0 percentage points from the previous month, with a month-on-month growth of 0.87%. Looking at the three major categories, the year-on-year growth of value added in mining was 3.9%, manufacturing was 6.7%, and the production and supply of electricity, heat, gas, and water increased by 9.9%. In the equipment manufacturing industry, the year-on-year growth of value added was 9.8%, an increase of 3.6 percentage points from the previous month, and in high-tech manufacturing, the growth of value added was 6.2%, accelerating by 4.4 percentage points. In terms of specific products, the production of solar cells, service robots, and integrated circuit products increased by 44.5%, 33.3%, and 27.9%, respectively.

Prices of rare earth products on December 15, 2023

Picture of erbium oxide

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