Market Trends in the Chinese Rare Earth Market on October 9, 2023

Market Trends in the Chinese Rare Earth Market on October 9, 2023

At the beginning of the week, the domestic rare earth market in China remained stable overall.

 Although most of the listed prices for Northern Rare Earth increased this month, recent fluctuations in the USD/CNY exchange rate (approximately 7.30 at 10 AM today), disruptions in Burmese mineral imports, and continued environmental crackdown efforts in some regions like Jiangxi have all favored suppliers' quotations. 

However, buyers had largely completed their short-term procurement plans before the National Day holiday, and during the holiday, some magnetic materials and polishing powder companies reduced or halted production, contributing to reduced market demand in recent days.

In terms of news, according to information from Zhongtung Online, the listed prices for northern rare earths in October 2023 have seen month-on-month increases but year-on-year decreases. The prices are as follows:

Lanthanum oxide: CNY 9,800 per ton, unchanged month-on-month and year-on-year.

Cerium oxide: CNY 9,800 per ton, unchanged month-on-month and year-on-year.

Praseodymium-neodymium oxide: CNY 493,400 per ton, up 3.38% month-on-month and down 23.34% year-on-year.

Neodymium oxide: CNY 501,700 per ton, up 3.33% month-on-month and down 29.38% year-on-year.

Praseodymium-neodymium metal: CNY 608,000 per ton, up 3.29% month-on-month and down 22.84% year-on-year.

Neodymium metal: CNY 618,000 per ton, up 3.24% month-on-month and down 28.80% year-on-year.

These price changes reflect the ongoing dynamics in the rare earth market, with various factors influencing supply and demand.

Prices of rare earth products on October 9, 2023

Picture of lanthanum oxide

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