China Rare Earth Market - April 16, 2021

China rare earth market as a whole showed a stable and weak trend, although the production and sales of domestic new energy vehicles in March increased by 2.5 times and 2.4 times year-on-year. 

Domestic excavator product sales in January-February were 47,906 units, a year-on-year increase 149.2%; In 2021, the sales of mobile phones in the Chinese market may exceed 350 million units and other positive factors, but it is difficult to offset the harm caused by the negative factors to consumers, resulting in limited transactions.

The unfavorable factors include: firstly, suppliers’ quotations were raised too fast in the early stage, which caused buyers to become more afraid of heights, and their consumption was abnormally cautious, mostly based on just-needed purchases; secondly, the listed prices of Southern Rare Earths and Northern Rare Earth adjusted following the market this week. To a certain extent, it will also strengthen the downstream users' psychology of delaying purchases, which makes it difficult to increase the price. However, it is worth mentioning that the recent tightening of environmental protection policies and the greater geopolitical risks in various countries are not conducive to the increase in rare earth production, so the room for price reductions in the near future is also small.

Prices of rare earth products on April 16, 2021

China rare earth market image

Picture of cerium oxide

cerium oxide image

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

 

 

WeChat