Praseodymium Oxide Price - November 7, 2022

At the beginning of the week, the overall domestic rare earth market was still tepid, mainly reflected in the general market demand, the difficulty in rising and falling prices of mainstream light and heavy rare earth products, and the lack of confidence in the market outlook for the industry. Praseodymium oxide price declines slightly while dysprosium oxide price increases on November 7, 2022.

However, supported by production costs and the current low prices of rare earth raw materials, most stockholders still have strong confidence in price stability. The main reasons for the lack of market demand are the relatively small export volume of rare earth functional materials and limited domestic consumption due to the greater impact of the epidemic and geo-risks.

In terms of news: data from the China Robot Industry Alliance shows that in September 2022, the industrial robots of industrial enterprises above designated size in the country completed 43,000 sets of industrial robots, a year-on-year increase of 15.1%; in the same period, the national export value of industrial robot equipment was 60 million US dollars, a year-on-year increase of 36.7% . Robots are one of the fields where rare earth permanent magnet materials are applied.

Prices of rare earth products on November 7, 2022

Picture of neodymium oxide

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