China Praseodymium Oxide Price - December 20, 2021

Rare earth market quotation in China: terbium oxide and dysprosium oxide prices edge lower while praseodymium oxide price remains unchanged in the beginning of the week. 

Some rare earth smelting and separation companies were forced to suspend production and reduce production due to rising environmental protection requirements and upgrading of epidemic prevention and control measures, resulting in tight market spot supply. However, the current raw material prices are still high and flowing. As a result of insufficient funds, purchasers are also mainly based on just-needed receipts, according to Chinatungsten Online. 

News: Rare earth permanent magnet materials are one of the important raw materials for automobile motors. According to the forecast of the China Association of Automobile Manufacturers, China's total automobile sales in 2021 will be 26.1 million, a year-on-year increase of 3.1%. Among them, passenger vehicle sales were 21.3 million, a year-on-year increase of 5.6%; commercial vehicle sales were 4.8 million, a year-on-year decrease of 6.4%; new energy vehicle sales were 3.4 million, a year-on-year increase of 1.5 times. China’s total automobile sales in 2022 will be 27.5 million, a year-on-year increase of 5.4%, of which passenger car sales will be 23 million, a year-on-year increase of 8%; commercial vehicle sales will be 4.5 million, a year-on-year decrease of 6%; new energy vehicle sales will be 5 million vehicles, a year-on-year increase of 47%.

Prices of rare earth products on December 20, 2021

Picture of praseodymium oxide

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