Chinese Rare Earth Market - October 7, 2023

The Chinese rare earth market has continued its stable operation since the holiday period, mainly due to the fact that many traders have not yet resumed normal trading activities on the first day after the holiday, and there has been a slowdown in logistics transportation due to the return peak of travelers in the past two days.

Currently, the prices of praseodymium-neodymium oxide, gadolinium oxide, and dysprosium oxide are stabilizing at around 522,000 yuan/ton, 292,000 yuan/ton, and 2,710,000 yuan/ton, respectively. According to information from China Tungsten Online, during the National Day holiday period, many magnetic material companies maintained normal production, but their enthusiasm for purchasing rare earth raw materials was not very high.

In terms of news, data from the National Energy Administration shows that from January to August 2023, the total investment in power projects completed by major power generation enterprises nationwide reached 470.3 billion yuan, a 46.6% increase compared to the same period last year. Among them, solar power projects amounted to 187.3 billion yuan, an 82.7% increase compared to the same period last year; nuclear power projects reached 52.2 billion yuan, a 56.9% increase compared to the same period last year; and wind power projects totaled 114.9 billion yuan, a 38.7% increase compared to the same period last year.

Prices of rare earth products on October 7, 2023

Picture of praseodymium oxide

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