China Rare Earth Market - July 3, 2023

At the beginning of the week, China rare earth market is still sluggish. In addition to the continuous decline in the prices of some light and heavy rare earth raw materials, the prices of different grades of NdFeB blanks and their scraps also dropped. 

Currently, the prices of NdPrO, NdPr metal and GdO are about RMB 470,000/t, RMB 565,000/t and RMB 265,000/t respectively.

According to Chinatungsten Online, the recent low operating rate of magnetic material companies and the poor market conditions for polishing powder are the main reasons why the market demand for rare earth raw materials is difficult to increase. Coupled with the pressure from the financial side, the confidence of the holders in stabilizing prices has increased. Small. However, affected by factors such as production costs, increasing difficulty of production, and the relative sluggishness of the current rare earth market, many rare earth manufacturers have been slow to release production capacity.

In terms of news: Baotou Municipal Bureau of Industry and Information Technology shows that from January to May 2023, the added value of the six key industries in Baotou City increased by 20.9% year-on-year, an increase of 2.1 percentage points from January to April, and the contribution rate to the designated industries reached 72.4% %, an increase of 3.3 percentage points from January to April; among them, the rare earth industry increased by 10.7%, and the photovoltaic manufacturing industry (silicon) increased by 96.2%. Among them, the output of rare earth metal mines increased by 69.2%, the output of polysilicon increased by 4.3 times, and the output of monocrystalline silicon increased by 42.2%.

Prices of rare earth products on July 3, 2023

Picture of praseodymium oxide

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