Praseodymium Oxide Prices - August 9, 2023

The overall situation of the Chinese rare earth market has improved slightly on August 9, 2023, mainly reflected in the price increases of mainstream products to varying degrees, such as the prices of praseodymium oxide, gadolinium oxide and dysprosium oxide have increased by 10,000 yuan/ton, 3,000 yuan/ton and 30,000 yuan/ton respectively. 

However, affected by the limited release of end consumer demand, the price increases of praseodymium, neodymium, dysprosium, terbium and gadolinium products were not high, and the growth rate of orders was slow. At present, the industry is focusing on the second batch of rare earth mining, smelting and separation control indicators, and the performance of rare earth listed companies in the first half of the year.

According to Chinatungsten Online, the main reasons for the current rebound in rare earth prices are the high temperature, high rainfall, unabated efforts to crack down on environmental protection, the shortage of electricity in some areas, and the rise in energy prices such as oil prices. Many rare earth manufacturers Due to the limited increase in commercial output, and the recovery of wind power installations on the demand side, orders from magnetic material companies have increased. In addition, the current rare earth prices are at a low level, which is also the reason for the increased confidence of suppliers in quotations.

In terms of news: According to China Weather Network, from August 9th to 11th, my country's rainfall will show a pattern of "spots and wide areas". Except for the rainfall in Guangxi and Yunnan, there will still be some rain. Locally, there may be heavy rain; North China and Northwest China are affected by frequent short-wave trough activities, and strong convection is frequent; Northeast China will experience continuous rainfall in the next few days, and local heavy rain may occur.

Prices of rare earth products on August 9, 2023

Picture of praseodymium oxide

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