China Rare Earth Prices - October 16, 2023

At the beginning of the week, China rare earth prices remained relatively stable in some areas, with occasional minor declines. Specifically, the price of neodymium praseodymium oxide fell by about 1,000 CNY per ton, the price of dysprosium oxide dropped by around 10,000 CNY per ton, and dysprosium iron alloy prices decreased by approximately 20,000 CNY per ton. 

This is mainly attributed to weaker downstream demand and some suppliers' willingness to offer lower prices to facilitate sales due to tight liquidity. However, due to support from production costs and positive market expectations for the second half of the year in the rare earth market, many industry participants still hold significant expectations for the future.

In terms of news, data from the National Bureau of Statistics showed that in September 2023, China's industrial producer prices fell by 2.5% year-on-year but increased by 0.4% month-on-month. Among industrial producer prices, prices for production materials decreased by 3.0%, impacting the overall decline in industrial producer prices by about 2.45 percentage points. Within this category, prices in the mining industry decreased by 7.4%, while prices in the raw material and processing industries both decreased by 2.8%. Prices for consumer goods decreased by 0.3%, impacting the overall decline in industrial producer prices by about 0.07 percentage points.

Prices of rare earth products on October 16, 2023

Picture of europium oxide

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