China Rare Earth Price - October 29, 2021

China rare earth price was very strong in the week ended on Friday, October 29, 2021. Under the background of insufficient supply of raw materials and frequent favorable policies, traders have generally high speculation sentiment. However, due to limited funds and in order to avoid the risk of inversion, downstream users basically maintain rational consumption.

This week, the prices of neodymium praseodymium oxide and neodymium praseodymium have increased by approximately RMB 88,000/ton and RMB 80,000/ton respectively, while the prices of terbium oxide and dysprosium oxide have increased by RMB 700/kg and RMB 150,000/ton respectively.

In the light rare earth market, low-price spot neodymium praseodymium is extremely difficult to find. In addition to being driven by the good performance of the new energy motor market, some provinces, such as Jiangxi, have recently issued power-cut notices, which also boosted the bullish sentiment of the entire market. 

In the medium and heavy rare earth market, the limited increase in medium and heavy rare earth products and the active performance of the light rare earth market have largely supported supplier confidence in raising prices. Some industry players predict that the probability of a sharp drop in rare earth prices is unlikely in the short term. 

Prices of rare earth products on October 29, 2021

Picture of rare earth metals

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