Erbium Oxide Price - August 16, 2023

Rare earth market quotation in China: erbium oxide price edges higher while other rare earth products such as lanthanum oxide and europium oxide prices keep stable on August 16, 2023 with relative stable trader sentiment and volumes in the market. 

On the supply side, in the short term, some rare earth smelting and separation enterprises are more difficult to produce, and my country's import market is not very hot, which largely supports the confidence of suppliers to strengthen their quotations.

In terms of demand, although affected by the official cancellation of state subsidies for new energy vehicles in January this year, the demand of magnetic material enterprises is not as good as expected, but due to the good development of industries such as wind power generation and smart home appliances, downstream users basically maintain rigid demand purchases; in addition, the purchasing power of foreign currencies is strong, It is conducive to the export of rare earth products. According to customs data, in the first half of 2023, my country's export volume of rare earth products will be about 26,236 tons.

In terms of news: According to data released by the China Association of Automobile Manufacturers, in July 2023, domestic automobile production and sales will complete 2.401 million and 2.387 million vehicles, a decrease of 6.2% and 9% from the previous month, and a decrease of 2.2% and 1.4% from the same period last year. From January to July 2023, domestic automobile production and sales will complete 15.65 million and 15.626 million vehicles respectively, a year-on-year increase of 7.4% and 7.9% respectively, and the cumulative production and sales growth rate will drop by 1.9 percentage points from January to June.

Prices of rare earth products on August 16, 2023

Picture of dysprosium oxide

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