China Rare Earth Price - February 10, 2023

China rare earth price is weak in the week ended on Friday February 10, 2023. Under the interweaving of positive and negative factors, the buyer’s market has a greater advantage. 

The price of praseodymium, neodymium, dysprosium and terbium has declined. However, supported by production costs, suppliers are less willing to cut prices sharply, so the transaction is less. According to statistics from Chinatungsten Online, the price of praseodymium and neodymium oxide dropped by about 19,000 yuan/ton, or 2.53%, this week; the price of praseodymium and neodymium metal dropped by about 15,000 yuan/ton, or 1.66%.

In terms of positive factors: In addition to the arrival of the Spring Festival and the Lantern Festival, which will have a certain impact on the output of rare earth manufacturers, some overseas countries have relatively high geopolitical risks, which is not conducive to the increase in the import of rare earth products, and will also help the quotations of the holders; with the impact of the epidemic The demand for rare earth raw materials in traditional and emerging industries is expected to increase this year. The industry expects that by 2030, the growth rate of demand for rare earth raw materials will remain at around 20%.

Negative factors: Affected by the preferential policy of car purchase tax and the withdrawal of new energy subsidy policies, as well as the Spring Festival holiday, the auto market did not achieve a good start in January. Therefore, magnetic material companies use less rare earth raw materials, and the market "buy up but not down" "The sentiment is strong, and the transaction volume of rare earths is less; according to the experience of previous years, the first batch of rare earth mine mining total control indicators will be given in 2023, and the industry is expected to increase by 20%-25%, which is not conducive to price increases.

In terms of news: Rising Nonferrous Metals expects to achieve a net profit of 220 million to 260 million yuan in 2022, a year-on-year increase of 58.17% to 86.93%; net profit after deducting non-recurring gains and losses is 247 million to 287 million yuan, a year-on-year increase of 72.20% to 100.08 %. The main reason for the performance growth is: during the reporting period, the company increased the mining of rare earth mines, increased the output of mineral products, and worked hard to develop the market sales channels of rare earth and non-rare earth products, and expanded the sales scale. The operating income and gross profit have increased significantly.

Prices of rare earth products on February 10, 2023

Picture of erbium oxide

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