Price of Rare Earth Raw Materials - October 28, 2022

This week, the overall performance of the domestic rare earth market was uncertain. At the beginning of the week, the price of rare earth raw materials rose tentatively due to the slight increase in the enthusiasm of downstream users to purchase inquiries; and near the weekend, due to the slow follow-up of downstream demand, the price of rare earth fell again. 

However, supported by production costs, good prospects for the development of rare earth downstream industries, and the difficulty in increasing the supply of rare earth raw materials, suppliers have limited room for profit. Moreover, compared with March, the current rare earth prices are at a low level, close to the cost line. 

In terms of news: Zhenghai Magnetics achieved operating income of 4.557 billion yuan in the first three quarters of 2022, a year-on-year increase of 89.84%, net profit attributable to the parent of 305 million yuan, a year-on-year increase of 66.21%; basic earnings per share of 0.37 yuan, a year-on-year increase of 68.18%. Among them, in the third quarter, the operating income was 1.802 billion yuan, a year-on-year increase of 92.18%, the net profit attributable to the parent was 98.6253 million yuan, a year-on-year increase of 42.15%; the basic earnings per share was 0.12 yuan, a year-on-year increase of 50%. The main reason for the company's performance increase in the first three quarters of this year is that the sales revenue of high-performance NdFeB permanent magnet material products increased significantly year-on-year during the reporting period.

Prices of rare earth products on October 28, 2022

Picture of lanthanum oxide

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