Praseodymium Oxide Price - March 29, 2023

Rare earth market quotation in China: praseodymium oxide, praseodymium neodymium oxide and metal prices remain weak adjustment on March 29, 2023 mainly due to the weak market demand and the rapid growth of rare earth raw material spot inventory. 

The total control indicators of the first batch of rare earth mining and smelting separation this year increased by 19% and 18% respectively year-on-year. It is worth mentioning that this year's medium and heavy rare earth index fell by 4.8% year-on-year to 10,943 tons, which is conducive to the quotation of medium and heavy rare earth suppliers. In addition, with the difficulty in increasing the supply of rare earth raw materials in the future and the good development of emerging industries, there are still industry players who have great expectations for the market outlook.

Ping An Securities stated that the rigid growth of global rare earth supply in the next 2-3 years will be characterized by prominent growth, and there will be no large-scale increase in the supply of rare earth mines overseas. Chuancai Securities stated that the Group of Seven (G7) countries continue to upgrade their emphasis on the supply security of rare earths. The core reason is that the global demand for rare earths continues to increase. It is expected that new energy power generation will increase the demand for rare earths in the future. bring about exponential growth.

Prices of rare earth products on March 29, 2023

Picture of neodymium oxide

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