China Rare Earth Price - July 5, 2023

China rare earth price has shown a continuous decline on July 5, 2023. 

In addition to the long-term weak demand from downstream users, the listed prices of Northern Rare Earth in July fell by more than half of the month-on-month and year-on-year declines, and the decline was relatively large, which also led to the lack of confidence in the price stabilization of suppliers recently. 

According to Chinatungsten Online, the prices of rare earth praseodymium neodymium oxide, neodymium oxide, metal praseodymium neodymium and metal neodymium in July fell by more than 41% year-on-year. However, supported by production costs, the slow increase in market spot supply and the sound development of the rare earth downstream industry, there are still cargo holders who are willing to maintain firm quotations.

In terms of news: Hunan Gaochuang Rare Earth issued a tender announcement for the design of 25 tons of high-purity rare earth metal targets and 2,000 tons of high-end rare earth alloy material industrialization projects. The announcement shows that the project is located on Dongyang Road, Liuyang Economic Development Zone, with a total construction area of about 51,034 square meters, of which the construction area of the first phase is about 35,208 square meters; the total project construction cost is 210 million yuan, of which the first phase construction cost is 150 million yuan. The cost of the second phase project is 60 million yuan.

Prices of rare earth products on July 5, 2023

Picture of praseodymium oxide

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