Erbium Oxide Price - August 28, 2023

Details: Category: Tungsten's News; Published on Monday, 28 August 2023 18:05

Rare earth market quotation in China: DyFe, gadolinium oxide and erbium oxide prices increased slightly on August 28, 2023 mainly attributed to several factors: positive expectations for the rare earth market in the second half of the year and the relatively low inventory levels of raw materials for magnetic materials in current magnetic material companies.

These factors have to some extent increased the desire for downstream users to make early purchases. Despite the current ample rare earth production, due to the high level of centralized management of rare earth resources, the actual amount of goods entering the market is not substantial. This situation favors traders to provide quotations.

Recent data reveals that according to customs statistics, from January to July 2023, China imported a total of 41,577 tons of rare earth metal ores, a decrease of 14% compared to the same period last year. Among them, the import volume in July was 3,725 tons, showing a decrease of 48% compared to the previous month and a decrease of 45% year-on-year. In July 2023, the import volume of unnamed rare earth oxides reached 4,739 tons, with an increase of 21% compared to the previous month and a staggering 930% increase compared to the same period last year. The export volume was 373 tons, demonstrating an 88% increase compared to the previous month and a 50% increase year-on-year.

Prices of rare earth products on August 28, 2023

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