China Rare Earth Market - September 8, 2023

Details: Category: Tungsten's News; Published on Friday, 08 September 2023 17:50

As of September 8, 2023, China rare earth market has shown an overall stable upward trend in prices for the week. This trend can be primarily attributed to the generally strong speculative sentiment among suppliers.

However, despite this positive sentiment, there are still bearish factors at play, including insufficient liquidity and the complex global economic environment. These factors have resulted in slow follow-up from downstream demand and, consequently, limited actual transaction volumes.

Currently, market participants are paying close attention to the demand situation in the "Golden September and Silver October" market and the allocation of the second batch of rare earth quotas.

According to information obtained by Chinatungsten Online, this week saw the following price changes for rare earth materials compared to the previous week: neodymium oxide prices increased by approximately CNY 24,000 per ton, marking a rise of 4.77%; praseodymium-neodymium alloy prices increased by approximately CNY 30,000 per ton, marking a rise of 4.88%; terbium oxide prices increased by approximately CNY 500 per kilogram, marking a rise of 6.13%; dysprosium oxide prices increased by approximately CNY 130,000 per ton, marking a rise of 5.24%; the price of 55N neodymium iron boron ingots remained stable; the price of neodymium iron boron scrap (praseodymium-neodymium) increased by approximately CNY 20 per kilogram, marking a rise of 3.74%.

It is evident that prices of rare earth raw materials such as praseodymium, neodymium, terbium, and dysprosium have experienced significant increases. In this context, the prices of rare earth permanent magnet materials have also remained robust.

In terms of news, according to information from the Baotou Municipal Industry and Information Technology Bureau, in August 2023, prices of rare earth products in Baotou showed a month-on-month upward trend for more than half of the products. Among these, the highest month-on-month increase was observed in cerium carbonate, with an average price of CNY 39,475 per ton, marking a 7.4% increase compared to the previous month but a 26% decrease year-on-year. On the other hand, the highest year-on-year decrease was observed in cerium oxide, with an average price of CNY 4,400 per ton, which remained unchanged compared to the previous month but decreased by 43.2% year-on-year.

Prices of rare earth products on September 8, 2023

China rare earth prices image