Neodymium Oxide Price - October 25, 2023

Rare earth market quotation in China: neodymium oxide, praseodymium neodymium oxide and gadolinium oxide prices decline slightly on October 25, 2023, with the relatively low enthusiasm of traders, and the limited number of new orders.

Looking at the positive factors, firstly, many industry participants have a high degree of confidence in the future market, supported by production costs and the rapid development of emerging industries. Secondly, the recent statement by the Malaysian Minister of Science and Innovation, which restricts the export of raw rare earth materials and only allows the export of processed rare earth products, has to some extent boosted the confidence of raw material suppliers.

On the negative side, firstly, due to relatively tight liquidity and the surplus of current raw materials, downstream buyers are not very proactive in their inquiries and purchases. Secondly, with lower market demand, rare earth smelting and separation enterprises have been maintaining normal production, leading to a slightly loose supply of spot goods in the market. Thirdly, Northern Rare Earth, a leading enterprise in the rare earth industry, saw a year-on-year decline of over 70% in its net profit attributable to shareholders for the first three quarters, which does not bode well for confidence in the rare earth market.

In terms of news, in the first three quarters of 2023, Northern Rare Earth achieved operating income of approximately CNY 24.923 billion, a year-on-year decrease of 10.98%, and a net profit attributable to shareholders of approximately CNY 1.38 billion, a year-on-year decrease of 70.19%. The basic earnings per share were CNY 0.3819, also showing a year-on-year decrease of 70.19%.

Prices of rare earth products on October 25, 2023

Picture of erbium oxide

Follow our WeChat to know the latest tungsten price, information and market analysis.

• < Prev
• Next >