China Rare Earth Price - August 12, 2022

China rare earth price was in the downward trend in the week ended on Friday, August 12, 2022. Under the gradual exhaustion of favorable factors, traders' optimistic expectations have declined, and their cautious mood has increased, which in turn leads to less trading volume and uncertain market outlook.

However, with the support of production costs, limited spot inventory in the market and the good development prospects of rare earth downstream industries such as new energy and wind power industries, there are still industry players who have certain confidence in the market outlook.

In the light rare earth market, the market situation is not good. Although some rare earth producers have reduced production due to the recent market downturn and extreme weather, it is still difficult to offset the weak downstream demand and the reduction in the listed price of northern rare earths this month. As a result, the prices of Nd-PrO and Nd-Pr metal dropped to around RMB 750,000/ton and RMB 910,000/ton, respectively.

In the medium and heavy rare earth market, it is generally cautious to wait and see. Under the circumstance that the production capacity of heavy rare earth mining enterprises in Jiangxi, Fujian and other places is limited, the holders are generally more eager to make quotations, but the market demand is slow to follow up and the price of praseodymium and neodymium is declining. To a large extent restrain the price of terbium and dysprosium.

In terms of news: data from the China Rare Earth Industry Association shows that the output of major rare earth functional materials from January to June 2022 maintained steady growth. Among them, the output of sintered NdFeB blank was 116,000 tons, up 15% year-on-year; the output of bonded NdFeB was 4,490 tons, up 2% year-on-year; the output of samarium cobalt magnet was 1,490 tons, up 14.6% year-on-year; the output of petroleum catalytic cracking catalyst was 109,000 tons tons (excluding foreign-funded enterprises), down 4.4% year-on-year; output of motor vehicle exhaust purifiers was 9.75 million liters (excluding foreign-funded enterprises), up 36.4% year-on-year; LED phosphor output was 289.5 tons, down 14.9% year-on-year; tri-color phosphors The output was 360 tons, a year-on-year decrease of 13.9%; the output of long afterglow phosphor was 120.5 tons, a year-on-year decrease of 5.9%. The output of rare earth hydrogen storage materials was 4,398 tons, a year-on-year decrease of 13.4%; the output of rare earth polishing materials was 16,000 tons, a year-on-year decrease of 8.4%.

Prices of rare earth products on August 12, 2022

Picture of rare earth permanent magnet materials

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