China Rare Earth Market - February 24, 2023

This week, China rare earth market showed a downward trend. Affected by the imbalance between supply and demand at the beginning of the week, the prices of rare earth raw materials such as praseodymium, neodymium, dysprosium, terbium, and gadolinium dropped sharply. However, near the weekend, supported by production costs, the prices of praseodymium and neodymium products rebounded.

According to statistics from Chinatungsten Online, the price of praseodymium and neodymium oxide dropped by about 1,000 yuan/ton this week, that of praseodymium and neodymium metal dropped by about 20,000 yuan/ton, and that of terbium oxide dropped by about 400 yuan/kg, erbium oxide dropped by about 20,000 yuan/ton, and dysprosium iron alloy dropped by about 70,000 yuan/ton.

In 2023, the first batch of domestic rare earth indicators will be released soon. The industry expects that the light rare earth index may continue to grow, which may have a greater impact on the light rare earth market that was originally oversupplied, so it is difficult for light rare earth prices to rise sharply in the short term. However, the industry also pointed out that the Ministry of Industry and Information Technology had previously made a clear statement to maintain the price of rare earths. The growth rate of domestic rare earth indicators may slow down in 2023. It is expected that the total amount of rare earth indicators this year will be flat compared with the same period in 2022.

In terms of news: Zhongjin Nonferrous Research predicts that the gap between supply and demand of young rare earth mines will be about -0.2%/-3.3%/-3.4% in 2023-2025, and the gap between supply and demand of heavy rare earth mines will be about -6.9%/-2.6%/ -6.5%; 2021-2025 CAGR of demand for high-end magnetic materials will reach 22%.

Prices of rare earth products on February 24, 2023

Picture of erbium oxide

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