Chinese Rare Earth Prices – June 5, 2023

At the beginning of the week, Chinese rare earth prices showed a general downward trend, mainly due to the decrease in demand from downstream users. 

Currently, the prices of praseodymium neodymium oxide, gadolinium oxide and dysprosium oxide have been lowered by around RMB 4,000/ton, RMB 10,000/ton and RMB 20,000/ton respectively. However, supported by production costs and the recent increase in the supply of raw materials in the market, there are still many holders who are willing to maintain firm quotations.

According to Chinatungsten Online, the main reason for the decrease in downstream demand is that many consumers basically completed their purchase plans at the end of last month; in addition, the price of rare earth raw materials rose slightly for a long time last month, which also weakened the purchase desire of downstream users to a certain extent.

In terms of news: From January to April 2023, the added value of industries above designated size in Baotou City increased by 19.8% year-on-year, an increase of 1 percentage point from the first quarter. In terms of industry, in the first four quarters of this year, the added value of the six key industries of iron and steel, aluminum, equipment manufacturing, rare earth, electric power and photovoltaic manufacturing increased by 18.8% year-on-year, contributing 69.1% to industries above designated size. An increase of 5.2 percentage points. Among them, the rare earth industry increased by 9.2%, an increase of 2.9 percentage points from the first quarter; the added value of the photovoltaic manufacturing industry increased by 93.4%.

Prices of rare earth products on June 5, 2023

Picture of europium oxide

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