China Rare Earth Market - January 9, 2023

At the beginning of the week, China rare earth market generally maintained a stable operation. With the rare earth raw material spot inventory not much and the downstream demand not improving significantly, the negotiation atmosphere between buyers and sellers was slightly deadlocked.

Buyers generally have a strong psychology of firm quotations, but buyers' sentiment of lowering prices has not diminished, so the overall trading activity in the market is not high, and new orders are few. It is understood that the main reason for the weak market demand is that the Spring Festival is approaching, some logistics have stopped transportation, some buyers have tightened their funds, and the current global economic recovery is slow.

In terms of news: the National Energy Administration announced that in 2023, the installed capacity of wind power will reach 430 million kilowatts, and the cumulative installed capacity of solar power will reach 490 million kilowatts (490 GW). The cumulative installed capacity of the two reached 920 million kilowatts, of which the newly installed capacity will reach 160 million kilowatts, a year-on-year increase of over 33%. The field of wind power is one of the main application fields of rare earth permanent magnet materials.

Prices of rare earth products on January 9, 2023

Picture of neodymium oxide

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