China Rare Earth Price - June 24, 2022

China rare earth price was in the downward trend in the week ended on Friday, June 24, 2022. Although supported by the difficulty in increasing the supply of rare earth raw materials and production costs, there are still many suppliers willing to maintain firm quotations, but it is still difficult to offset the damage caused by the long-term weak demand of downstream users.

It is difficult to stabilize the product price and the market outlook is not clear. This week, the prices of praseodymium neodymium oxide and dysprosium oxide products dropped by about 10,000 yuan/ton and 80,000 yuan/ton.

According to Chinatungsten Online, the main reasons for the weak market demand are: the current price of rare earth raw materials is still relatively high and the liquidity is limited, which are the main reasons for buyers' hesitation in consumption; Many ports have resumed traffic capacity, but they have not yet fully transmitted to the rare earth market, which is also the reason why the demand for rare earth functional materials is difficult to increase.

According to China Tungsten Online's research and customs data, from January to May 2022, the cumulative import volume of China's rare earth products was 50,708,713 kg, a year-on-year decrease of 8.70%; the cumulative import value was 4,317,024,700 yuan, a year-on-year decrease of 0.73%; The import volume was 7,880,149 kg, a decrease of 33.81% month-on-month and a year-on-year decrease of 20.31%; the import amount was 902.4407 million yuan, a month-on-month decrease of 12.85% and a year-on-year decrease of 11.60%.

From January to May 2022, the cumulative export volume of China's rare earth products was 47,539,197 kg, a year-on-year increase of 13.96%; the cumulative export value was 14,729,802,200 yuan, a year-on-year increase of 71.46%; among which, China's rare earth product exports in May were 10373,173 kg, a month-on-month increase of 6.03% %, an increase of 15.12% year-on-year; the export value was 3611.0672 million yuan, an increase of 8.18% month-on-month and an increase of 80.34% year-on-year.

Prices of rare earth products on June 24, 2022

China rare earth price photo

Picture of neodymium oxide

neodymium oxide photo

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