Erbium Oxide Prices - October 23, 2023

Details: Category: Tungsten's News; Published on Monday, 23 October 2023 15:18

At the beginning of the week, China’s domestic rare earth market remained weak adjustment, primarily characterized by the stability of product prices in some areas, minor decreases in a few instances, and a relatively low number of new orders.

Currently, the prices of praseodymium oxide, gadolinium oxide, and 52H neodymium iron boron (NdFeB) crude block are temporarily stable at around CNY 535,000 per ton, CNY 290,000 per ton, and CNY 320 per kilogram, respectively, while the prices of praseodymium neodymium metal, terbium oxide and erbium oxide prices declined slightly.

According to Chinatungsten Online, the favorable factors for the market include: first, in order to avoid the risk of cost inversion and supported by the good development of emerging industries, suppliers are generally less willing to make price concessions; second, some research institutions predict the demand for rare earth permanent magnet materials this year will rise, which will lead to an increase in the consumption of light and heavy rare earth raw materials, thus helping previously relevant suppliers to maintain strong quotations.

News: Data from the National Bureau of Statistics show that the GDP in the first three quarters of 2023 was 91.3027 billion yuan, a year-on-year increase of 5.2% at constant prices. In terms of industries, the added value of the primary industry was 5,637.4 billion yuan, a year-on-year increase of 4.0%; the added value of the secondary industry was 35,365.9 billion yuan, an increase of 4.4%; the added value of the tertiary industry was 50,299.3 billion yuan, an increase of 6.0%. Looking at the quarters, GDP increased by 4.5% year-on-year in the first quarter, 6.3% in the second quarter, and 4.9% in the third quarter. From a quarter-on-quarter perspective, GDP increased by 1.3% in the third quarter.

Prices of rare earth products on October 23, 2023

erbium oxide price image