Chinese Rare Earth Price - August 31, 2023

Chinese rare earth price fluctuates within a reasonable range as a whole on August 31, 2023, mainly due to the recent increase in the price of rare earth raw materials and the slow follow-up of demand from downstream users. 

The current price of praseodymium oxide is about 510,000 yuan/ton, praseodymium and neodymium metal is about 615,000 yuan/ton, gadolinium oxide is about 300,000 yuan/ton, erbium oxide is about 279,000 yuan/ton, and 55N NdFeB rough square is about 235 yuan/kg.

According to Chinatungsten Online, in order to avoid the risk of cost inversion and as the "Golden September and Silver October" approaches, suppliers are less willing to give up profits. Gelonghui news shows that Northern Rare Earth currently has sufficient orders in hand, and the profit growth points in the second half of the year are mainly smelting and separation products, metals, and magnetic materials; the capacity utilization rate of the raw material sector is over 90%, and the capacity utilization rate of the functional material sector is 70% above.

Prices of rare earth products on August 31, 2023

Picture of neodymium oxide

Follow our WeChat to know the latest tungsten price, information and market analysis.

• < Prev
• Next >