China Rare Earth Market - December 23, 2022

This week, China rare earth market showed a pattern of rising first and then stabilizing. At the beginning of the week, supported by factors such as low spot inventory in the market, increased inquiries from downstream users, and the rapid development of emerging industries, suppliers generally raised their quotations slightly. 

However, due to the slow follow-up of downstream demand near the weekend, rare earth prices basically remained stable. The industry expects that the market may continue to maintain a consolidation operation in the short term.

According to Chinatungsten Online, the price of praseodymium and neodymium oxide rose by about 10,000 yuan/ton, or 1.44% this week; the price of praseodymium and neodymium metal rose by about 20,000 yuan/ton, or 2.38%; the price of terbium oxide rose by about 200 yuan/kg, or 1.46%; Dysprosium oxide rose about 40,000 yuan/ton, or 1.63%; dysprosium iron alloy rose about 40,000 yuan/ton, or 1.65%.

The main reasons for the lack of spot supply in the market are: in the context of the current poor global economic environment, in order to avoid the risk of cost inversion, many rare earth manufacturers reasonably control production, coupled with greater external risks and low purchasing power of RMB, Imports of rare earth raw materials are also relatively limited. The main reason for the increase in market demand is: under the optimization of epidemic prevention and control measures, enterprises in many places have accelerated their resumption of work and production, coupled with the recent increase in holidays and the current low price of rare earths, many buyers have higher consumption desires.

In terms of news: The latest data from the National Bureau of Statistics shows that in November 2022, the added value of industries above designated size decreased by 0.31% month-on-month and increased by 2.2% year-on-year. In terms of different industries, in November, the general equipment manufacturing industry decreased by 0.9% year-on-year, the special equipment manufacturing industry increased by 2.3% year-on-year, the automobile manufacturing industry increased by 4.9% year-on-year, the railway, shipbuilding, aerospace and other transportation equipment manufacturing industry decreased by 2.9% year-on-year, and the electrical industry The machinery and equipment manufacturing industry increased by 12.4% year-on-year, the computer, communication and other electronic equipment manufacturing industry decreased by 1.1% year-on-year, and the electricity and heat production and supply industry decreased by 1.0% year-on-year.

Prices of rare earth products on December 23, 2022

Picture of dysprosium oxide

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