China Rare Earth Market - April 22, 2021

The whole rare earth market in China is tepid in the week began on Monday April 19. Downstream magnetic material companies generally focus on just-needed replenishment, which is the main reason for the lack of upward adjustments in supplier quotations. 

However, due to the effective control of the global epidemic, the demand for downstream traditional and emerging applications continuing to increase, the support from the supply-side policy, most traders are not willing to sell products at low prices, resulting in limited transactions. 

At present, most industry insiders believe that there is still great potential for the development of rare earth minerals. The demand for praseodymium and neodymium oxide is expected to be 70,000 tons in 2021, with a market value of approximately US$6 billion, and it is expected to increase to US$12 billion in 2030.

In the news: Canada's first rare earth miner has started mining business, mainly mining rare earth elements used in electric vehicles, aerospace, defense and electronic products. Recently, Rainbow Rare Earths Ltd has received a notice from the Burundian government that the export of rare earth concentrates produced by the trial mining and processing operations of its Gakara project in Burundi will be temporarily suspended.

Prices of rare earth products on April 22, 2021

Picture of metal terbium

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