Gd Oxide Price - August 23, 2023

The Chinese rare earth market is overall maintaining a stable and slightly strong operation on August 23, 2023. Amid the interplay of multiple factors, the advantage of sellers has strengthened compared to the previous period. 

This is particularly evident in the mainstream light and heavy rare earth raw materials as well as NdFeB ingot and scrap prices, which have experienced notable jumps: PrNd oxide increased by CNY 17,000 per ton, PrNd metal increased by CNY 15,000 per ton, Gd oxide increased by CNY 10,000 per ton, Tb oxide increased by CNY 300 per kilogram, Ho oxide increased by CNY 15,000 per ton, DyFe alloy increased by CNY 50,000 per ton, and NdFeB scrap (Tb) increased by CNY 20 per kilogram.

Positive factors include: Firstly, heavy rainfall in various regions has slowed down the production pace of local rare earth mining companies and increased logistical challenges, prompting downstream users to advance their procurement plans. Secondly, in the context of energy conservation and emission reduction, the development of new energy and wind power generation industries is robust, leading to an increase in rare earth permanent magnetic material usage. Thirdly, given the relatively low levels of rare earth raw material prices, increased foreign currency purchasing power is beneficial for China's rare earth raw material exports. 

Negative factors include: Firstly, under the ongoing challenges faced by global economic recovery, the operating rates of rare earth magnet material companies are not high, which hampers the increase in rare earth raw material usage. Secondly, China has imported a considerable amount of rare earth raw materials: Customs data shows that in July 2023, China's imports of rare earth products amounted to 14,831.4 tons, a year-on-year increase of 55.7%.

In terms of news: Customs data shows that from January to July 2023, China's rare earth product exports reached 31,661.6 tons, a 6% increase compared to the same period last year. The export value of rare earths was USD 507.1 million, a 20.7% decrease compared to the same period last year.

Prices of rare earth products on August 23, 2023

Picture of neodymium iron boron

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