Praseodymium Oxide Price - November 16, 2022

Rare earth market quotation in China: praseodymium oxide and praseodymium neodymium oxide prices continue to decline on November 16, 2022 mainly due to low trading activity. 

Under the influence of many uncertain factors, the agreement between buyers and sellers is low, resulting in scarce new orders, and the price of rare earths is weak, and even a small decline in some cases. However, as the price of raw materials is gradually approaching the cost line, many suppliers' awareness of profit has also increased, so they are less willing to cut prices.

According to Chinatungsten Online, market uncertainties include: the fermentation of domestic and foreign epidemics, the status of logistics and transportation, the development of rare earth downstream industries such as the new energy automobile industry and the consumer electronics industry, and global geopolitical risks.

News: As of 24:00 on November 15, there were 1,56,814 new local infections in China, 18,491 new local asymptomatic infections, and 55 new overseas infections. According to data from the China Association of Automobile Manufacturers, the production and sales of new energy vehicles hit a new monthly record in October, reaching 762,000 and 714,000 respectively, a year-on-year increase of 87.6% and 81.7%, and the market share rose to 28.5%. In the first 10 months of this year, the production and sales of new energy vehicles reached 5.485 million and 5.28 million respectively, an average increase of 1.1 times year-on-year, and the market share reached 24%.

Prices of rare earth products on November 16, 2022

Picture of erbium oxide

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