Chinese Rare Earth Price - October 20, 2023

This week, Chinese rare earth price exhibited a generally stable-to-weak trend. This was primarily reflected in varying degrees of decline in the prices of light and heavy rare earth raw materials, as well as a slow growth in actual orders. In the short term, many traders adopted a cautious wait-and-see approach.

As per information from China Tungsten Online, the prices of certain rare earth materials have seen declines compared to the previous week. Neodymium-praseodymium oxide prices decreased by approximately 6,000 CNY per ton, a decrease of 1.13%. Prices of neodymium-praseodymium metal decreased by approximately 12,000 CNY per ton, marking a decrease of 1.82%. Terbium oxide prices decreased by about 190 CNY per kilogram, representing a 2.22% decrease. Dysprosium oxide prices dropped by around 20,000 CNY per ton, with a decrease of 0.74%. The prices for 55N neodymium iron boron ingots remained stable. Prices for waste materials (containing praseodymium and neodymium) of neodymium iron boron ingots decreased by about 12 CNY per kilogram, a decrease of 2.14%.

The recent decline in rare earth prices can be attributed to several factors, including rapid growth in the production of some rare earth raw materials and sluggish demand from downstream users. However, due to factors like higher production costs, positive expectations for the second half of the year, and the fact that rare earth prices are still relatively low, suppliers have limited room to reduce prices.

On the news front, data from the National Bureau of Statistics showed that in September 2023, the year-on-year real growth in value-added by large-scale industries was 4.5%, with a 0.36% increase month-on-month. Notable growth was observed in the chemical raw materials and chemical product manufacturing industry (13.4%), the black metal smelting and rolling processing industry (9.9%), the non-ferrous metal smelting and rolling processing industry (8.4%), the automotive manufacturing industry (9.0%), the electrical machinery and equipment manufacturing industry (11.5%), and the electric power and heat production and supply industry (4.6%). However, there was a decline in the non-metallic mineral product industry (1.7%) and other sectors.

Prices of rare earth products on October 20, 2023

Picture of lanthanum oxide 

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