Rare Earth Raw Materials Prices - June 13, 2022

At the beginning of the week, China’s domestic rare earth market was still tepid. Affected by the weak supply and demand, traders entered the market in a general mood, so prices of rare earth raw materials fluctuated in a narrow range and the transaction was lower than expected.

From the perspective of supply, due to the increase in oil and coal prices, the mining costs of rare earth smelting and separation enterprises have increased. From the demand side, although supported by the resumption of work and production in Shanghai, the downstream manufacturers of rare earths such as new energy vehicles have resumed production, but they have not been able to support the sharp increase in rare earth prices, mainly due to the fact that the current global economic growth has not yet fully stabilized. 

In terms of news: Customs data shows that from January to May 2022, China's cumulative import volume was 49,646.7 tons, a year-on-year decrease of 8.5%, of which rare earth imports in May were 7,617.6 tons, a month-on-month increase of 9.84%. From January to May, China's cumulative export was 21,969.7 tons, a year-on-year increase of 10.9%, of which rare earth exports in May were 4,862.5 tons, a month-on-month increase of 9.84%.

Prices of rare earth products on June 13, 2022

rare earth raw materials prices photo

Picture of europium oxide

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