China Rare Earth Price - April 9, 2020

Details: Category: Tungsten's News; Published on Friday, 10 April 2020 10:20

China rare earth price continued to be in the downward trend in the week began on Tuesday April 7, 2020 affected by sluggish demand from overseas due to the Covid-19.

On the one hand, due to the fact that most foreign new energy manufacturers stop production, logistics companies stop providing services, the export of rare earths decreases sharply, which has caused some upstream merchants to actively ship, and the quotation has gradually declined; on the other hand, affected by the largest rare earth company, Lynas, outside China still stopping production and the closure of Myanmar customs, there are still a few rare earth smelting companies that have a strong reluctance to sell, and the product price has limited room for decline.

The total import of rare earth metal mines in January-February 2020 was 15,737 tons, a substantial increase. Among them, the U.S. imports were 15,737 tons, an increase of 223% from December 2019, and the average import price was $ 1,307 / ton, compared with December 2019, the average price fell 4.4%, according to the news.

Prices of rare earth products on April 9, 2020

China rare earth price image