China’s Domestic Rare Earth Market – May 29, 2023

At the beginning of the week, China’s domestic rare earth market maintained a relatively strong operation. Under the mutual influence of positive and negative factors, the negotiation atmosphere between buyers and sellers was slightly stalemate. 

At present, the positive factors in the market mainly include the slight slowdown in the release of production capacity of some rare earth manufacturers in the near future and the good expectations of the future market of rare earths; the negative factors mainly include that the follow-up demand of downstream users is not as good as expected and the global economic recovery is still relatively weak.

In terms of news: Baotou Municipal Bureau of Industry and Information Technology shows that from January to April 2023, 328 of Baotou's 328 key industrial projects worth more than 100 million yuan have resumed work, with a 100% resumption rate, completed an investment of 54.88 billion yuan, and an investment completion rate of 37.8%. Among them, 36 of the 36 rare earth industry projects started and resumed work, with an investment of 3.44 billion yuan; 30 of the 30 onshore wind power equipment industry projects started and resumed work, with an investment of 7.69 billion yuan; 5 new energy heavy truck and supporting industry projects started and resumed work, completed an investment of 830 million yuan; 16 advanced metal material industry projects started and resumed work, and completed an investment of 1.97 billion yuan.

Prices of rare earth products on May 29, 2023

Picture of neodymium oxide

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