Neodymium Oxide Price - February 25, 2021

Rare earth market quotation in China: praseodymium oxide, lanthanum oxide and neodymium oxide prices are in the upward trend on February 25, 2021. But downstream buyers are not willing to purchase at high prices and deals rarely concluded. 

Although the first batch of total rare earth indicators have risen sharply this year, it is still difficult to solve the situation that market demand exceeds supply. In the medium and long term, thanks to the expected positive support for the development of downstream emerging industries, the demand for rare earth functional materials is expected to increase substantially, so the tight supply of rare earth products is difficult to alleviate.

The excavator motor is made of rare earth permanent magnet materials. According to CME estimates, the sales volume of excavators (including exports) in January-February 2021 is 41,601, a year-on-year growth rate of 116.42%. Among them, 34,026 units in the domestic market, a year-on-year growth rate of 131.99%; 7,575 units in the export market, a year-on-year growth rate of 66.30%. It is estimated that 22,000 excavators will be sold in February 2021, a year-on-year growth rate of 137%. Among them, the domestic market is estimated to sell 18,000 units, a growth rate of 160%; the export market is estimated to sell 4,000 units, a growth rate of 69%.

Prices of rare earth products on February 25, 2021

Picture of neodymium oxide

Follow our WeChat to know the latest tungsten price, information and market analysis.

• < Prev
• Next >