China’s Domestic Rare Earth Market - June 9, 2023

This week, China’s domestic rare earth market showed a pattern of ups and downs. 

Under the influence of many uncertain factors, the market trends of light and heavy rare earths and permanent magnet materials are slightly different, mainly reflected in the price of praseodymium, neodymium and dysprosium first falling and then rising, while the price of neodymium and dysprosium fell first and then rose. The price of iron boron rough remained stable.

Specifically, at the beginning of the week, affected by factors such as the slow follow-up of downstream demand and the long-term rise in the prices of many products last month, the confidence of rare earth suppliers in stabilizing prices was slightly insufficient. The downstream industries of rare earths, such as new energy vehicles and wind power industry, are well supported by the development, and the quotations of the holders have increased slightly.

In terms of news: According to the website of the Ministry of Commerce, from June to December 2023, the Ministry of Commerce will organize the "Hundred Cities Linkage" Automobile Festival and the "Thousands of Counties and Ten Thousand Towns" new energy vehicle consumption season activities to promote automobile consumption and benefit the general public. People. Some organizations predict that the annual sales of new energy vehicles will reach 8.5 million in 2023, 30% year-on-year, of which June-December is expected to be 24% year-on-year.

Prices of rare earth products on June 9, 2023

Picture of lanthanum oxide

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