Neodymium Oxide Price - December 22, 2023

This week, the overall trend in domestic rare earth prices in China showed stability followed by a decline. At the beginning of the week, due to significant production costs and downstream users maintaining essential procurement support, most suppliers maintained strong quotations. 

However, as the week approached its end, apart from the impact of the market's persistently weak demand and the excess supply of some rare earth raw materials, the Ministry of Industry and Information Technology (MIIT) announced the third batch of rare earth quotas, leading to an unexpected overall increase in rare earth quotas for 2023. This unexpected increase is a primary reason why supplier quotations are challenging to stabilize.

According to statistics from Chinatungsten Online, the current price of neodymium oxide has decreased by approximately 8,000 yuan/ton compared to last week, with a decrease of 1.78%. The price of neodymium metal has decreased by about 15,000 yuan/ton, with a decrease of 2.70%. The prices of terbium oxide and dysprosium oxide remain stable compared to last week. The price of 55N neodymium iron boron ingots has decreased by about 5 yuan/kg, with a decrease of 2.13%. The price of neodymium iron boron waste (terbium and neodymium) has decreased by about 15 yuan/kg, with a decrease of 3.19%. It is evident that the decrease in neodymium prices is still relatively significant, and influenced by the decrease in neodymium prices, the prices of neodymium iron boron ingots and their waste have also declined. It's worth noting that, despite the poor performance of the light rare earths market this week, the prices of dysprosium and terbium have remained relatively stable.

In terms of news, data from the Baotou Municipal Industry and Information Bureau show that from January to November 2023, the city's industrial added value increased by 22.8% year-on-year, significantly higher than the national average (4.3%) and the regional average (7.4%), with a difference of 18.5 and 15.4 percentage points, respectively. The rare earth and photovoltaic industries jointly drove the growth of industrial added value by 13.9 percentage points. Looking at production volumes, from January to November 2023, the output of rare earth metal ores in Baotou increased by 1.2 times, rare earth compound production increased by 2.9%, rare earth magnetic material production increased by 15.4%, and the production of individual rare earth metals increased by 15.7%.

Prices of rare earth products on December 22, 2023

Picture of neodymium oxide

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