Praseodymium Oxide Price - December 30, 2024

At the start of the week, domestic rare earth prices have seen a slight downward adjustment. 

The price of praseodymium oxide dropped by approximately RMB 2,000/ton, praseodymium-neodymium oxide by around RMB 1,000/ton, and erbium oxide by about RMB 1,000/ton. This decline is primarily attributed to low enthusiasm for inquiries and purchases from downstream users and ample spot supply in the market.

According to Chinatungsten Online, the main reasons for reduced market demand include the approach of year-end, which has led to a lack of proactive purchasing from downstream users. Additionally, the price increase of some products late last week further dampened buyers' willingness to purchase. However, due to the support of production costs, the room for price declines remains limited.

In other news, from January to November 2024, nationwide sales of new energy pickup trucks reached 10,500 units, marking a 58% year-on-year increase. In November alone, new energy pickup truck sales totaled 1,300 units, up 63% year-on-year, showing a stronger trend compared to fuel-powered pickups. It is expected that more new energy pickup truck models will meet both domestic and international demand in the future.

Prices of rare earth products on December 30, 2024

Picture of erbium oxide

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