China Rare Earth Market - October 14, 2022

This week, China rare earth market generally showed a pattern of first rising and then stabilizing, mainly due to the fact that suppliers were generally more supportive of prices and downstream users’ demand was lower than expected. 

At present, the prices of praseodymium neodymium oxide and terbium oxide are consolidating at around RMB 690,000/ton and RMB 13,100/kg, respectively.

According to Chinatungsten Online, the main reasons why many traders have low willingness to let prices are: supported by production costs and the good development of emerging industries; the decline in rare earth prices was relatively large in the early stage, resulting in low prices recently. Therefore, in order to To avoid the risk of inversion, most stockholders have strong confidence in the price. The main reason for the weak market demand for a long time is that the global economic growth situation is not optimistic.

In terms of news: From January to September 2022, the production and sales of new energy vehicles were 4.717 million and 4.567 million, an increase of 1.2 times and 1.1 times year-on-year; of which, the production and sales in September were 755,000 and 708,000 respectively, a month-on-month increase of 9.3% and 6.2%, a year-on-year increase of 1.1 times and 93.9%.

Prices of rare earth products on October 14, 2022

Picture of neodymium oxide

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