China Rare Earth Price - March 1, 2021

Details: Category: Tungsten's News; Published on Tuesday, 02 March 2021 09:23

China rare earth price continues its strong trend in early March, 2021 supported by short supply as following:

Firstly, under the stimulus of economy, downstream manufacturing industries such as new energy vehicles, 5G mobile phones, new and old infrastructure, and electronic consumer products have developed rapidly, which has increased the amount of rare earth functional materials and is conducive to market recovery; secondly, under the high pressure of domestic environmental protection, many rare-earth smelting companies have been forced to reduce production, and the political instability in most foreign countries has led to low activity in the domestic import market. All these factors are conducive to suppliers' firm and confidence in quotations.

In terms of news: In January 2021, the overall domestic mobile phone market shipped 40.12 million units, a year-on-year increase of 92.8%. Among them, 5G mobile phone shipments reached 27.278 million units, accounting for 68% of domestic mobile phone shipments in the same period, while 5G mobile phones in January last year accounted for only 26.3%.

Prices of rare earth products on March 1, 2021

China rare earth price image