Terbium Oxide Price - February 24, 2021

Rare earth market quotation in China: cerium oxide, lanthanum oxide and terbium oxide prices continue to rise on February 24, 2021 under the gradual recovery of the global market. However, as downstream buyers do not accept high prices, new increased orders are limited. 

From the demand side, driven by the expected positive development of downstream emerging industries such as wind power, new energy vehicles, 5G equipment, and new infrastructure, the demand for rare earth functional materials is expected to increase significantly. Therefore, the first batch of total rare earth indicators this year Increased by nearly 30%, but it is still difficult to alleviate the current tight supply of some products. 

From the supply side, as the time for the National Two Sessions is approaching, environmental protection efforts have also increased, which is not conducive to the release of production capacity of rare earth smelting enterprises, coupled with geopolitical instability in countries around the world, domestic rare earth imports are subject to certain restrictions, which is more conducive to the increase in market prices.

In the news: rare earth permanent magnet materials have been widely used in many fields such as aerospace, computers, communications, oil exploration, electric vehicles, etc. According to estimates, domestic demand will reach 450,000 tons per year by 2030.

Prices of rare earth products on February 24, 2021

Picture of terbium oxide

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