China Rare Earth Market - February 3, 2023

China rare earth market remained stable in the week ended on Friday February 3, 2023. 

Although the price of praseodymium and neodymium rose at the beginning of the week, near the weekend, due to the slow follow-up of transactions and the flat month-on-month comparison of the listed prices of Northern Rare Earth, the price of praseodymium and neodymium rationally corrected.

According to Chinatungsten Online, the Spring Festival holiday has just ended, and the upstream and downstream enterprises of rare earth have not yet resumed normal transactions, which is the main reason for the difficult rise and fall of rare earth prices and the slow growth of actual orders. However, supported by production costs, the sound development of emerging industries and the continuous introduction of favorable policies, many suppliers are still willing to maintain firm quotations.

In terms of news: In January 2023, the production lines of various rare earth production lines in the north maintained a fast pace and acceleration. The monthly plan completion rate of smelting and separation products was 106.65%, the monthly plan completion rate of rare earth metal products was 104.68%, and the monthly plan completion rate of rare earth functional materials products 106.41%, of which, the completion rate of the monthly plan for magnetic material products was 111%.

Prices of rare earth products on February 3, 2023

Picture of neodymium oxide

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