Praseodymium Oxide Price - March 23, 2022

Rare earth market quotation in China: terbium oxide, praseodymium oxide and dysprosium oxide prices are in the downward trend in the second half of March, 2022. With the support capacity of favorable factors gradually weakening, the mentality of buyers and sellers is in sharp contrast with the one or two months after the Spring Festival this year.

Downstream demand is weak, resulting in lower-than-expected transactions and lack of confidence in the market outlook. However, under the influence of the fact that the epidemic situation in Inner Mongolia and other places has not been well controlled and rainy days are common, the production capacity of rare earth smelting and separation enterprises has been released slowly. Due to the support of production costs and the small amount of rare earth imports, there are still holders who are willing to offer firm quotations. 

According to Chinatungsten Online, the main reasons for the poor demand from downstream users are: first, due to the unstable situation in Russia and Ukraine and the uncontrollable global epidemic, the downstream industries of rare earths such as automobile and smartphone industries have been affected to a certain extent, resulting in The decrease in the amount of rare earth functional materials reduces the enthusiasm of consumers to purchase rare earth raw materials; second, although the current rare earth prices have dropped significantly, they are still relatively high. In addition, suppliers are more panicky, and buyers are more cautious in consumption.

In terms of news: In 2022, Baotou Steel plans to produce 14.7 million tons of pig iron, 16.4 million tons of crude steel, 15.48 million tons of commercial billets, 160,000 tons of rare earth concentrates, and 300,000 tons of fluorite. In addition, the company's operating income budget target is 83.45 billion yuan.

Prices of rare earth products on March 23, 2022

Picture of neodymium oxide

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