Chinese Rare Earth Market - October 18, 2023

The domestic Chinese rare earth market continues to display a situation where there is value but limited trading activity on October 18, 2023. 

The interplay of various factors from both bullish and bearish sides has resulted in a somewhat stagnant atmosphere in negotiations between buyers and sellers. This situation has led to price fluctuations within a reasonable range and relatively few transactions. Nevertheless, in the short term, many industry players remain optimistic about the future.

As per information from Chinatungsten Online, the positive factors include:

1.The current period corresponds to the traditionally robust "Golden September and Silver October" season. Downstream rare earth production enterprises are operating at higher rates, which contributes to increased demand in the rare earth market.

2.Rare earth prices are still relatively low, and this, coupled with the support from high production costs and the rapid development of the new energy industry, has led to suppliers being less willing to significantly lower their prices.

Negative factors include:

1.Most rare earth smelting, separation, and metal enterprises have stable production. As a result, downstream users are not in a hurry to make purchases.

Since August, rare earth prices have been fluctuating upward, which has, to some extent, heightened the apprehension of buyers regarding high prices.

In terms of news, data from the official website of the Jiangxi Development and Reform Commission shows that in the third quarter, the average selling prices per ton of high-yttrium oxide (rare earth) and middle-yttrium europium compound (rare earth) in Ganzhou were 27,000 yuan and 22,330 yuan, respectively. This represents a 2.53% and 7.20% decrease, respectively, when compared to the previous period, and a 23.94% and 29.84% decrease, respectively, year-on-year. In September, the average selling prices per ton were 30,500 yuan and 26,000 yuan, respectively, reflecting a 15.09% and 20.93% increase compared to the previous month and a slight increase of 1.67% and a decrease of 3.70% year-on-year, respectively.

Prices of rare earth products on October 18, 2023

Picture of lanthanum oxide

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