Erbium Oxide Prices - April 19, 2023

Rare earth market quotation in China: terbium oxide, erbium oxide and holmium oxide prices continue to decline on April 19, 2023 mainly due to weak demand from downstream users and a strong sentiment to suppress prices. However, under this situation, good news has been continuously released, so the rare earth market is still expected to pick up.

According to Chinatungsten Online, in addition to the recent tightening of environmental protection inspections in various places and the strengthening of production cost support, the favorable factors, the price reduction of new energy vehicles of major brands and the release of the news of the proposed suspension of mines in Wa State, Myanmar, can also be greatly affected. The confidence in the rare earth market will be boosted, because the price reduction of new energy vehicles will help increase the use of rare earth permanent magnet materials, and the suspension of mines in Wa State, Myanmar will reduce Myanmar’s supply of rare earths to other countries to a certain extent, and vice versa. As the world's largest rare earth producer and exporter, China's rare earth market is heating up.

According to Chinatungsten Online, from August 1, 2023, the Wa State of Myanmar will stop all exploration, mining, processing and other operations in the mine. Wa State is one of the main producers of rare earths in Myanmar. Therefore, if the Wa State of Myanmar really implements the mine suspension policy, it will have a certain impact on the rare earth supply chain. At present, my country imports about 3,000 tons of rare earth oxides from Myanmar every month, of which about 200-300 tons are in the Wa state, accounting for 6.66%-10% of the total supply.

Prices of rare earth products on April 19, 2023

Picture of lanthanum oxide

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