Rare Earth Prices in China - October 30, 2023

At the beginning of the week, some domestic rare earth prices in China remained stable, with a few experiencing minor declines. The interplay of various factors affecting both the bullish and bearish sentiments has led to a somewhat stagnant atmosphere in negotiations between buyers and sellers, consequently slowing down the order growth.

Bullish factors include:

1.Strong support from production cost dynamics.

2.Research institutions anticipate a greater possibility of increased demand from magnetic materials companies in the fourth quarter, which is expected to drive up the consumption of rare earth materials.

Bearish factors include:

1.Downstream rare earth production companies still have a surplus of raw materials.

2.Tight liquidity conditions are observed.

3.Current downward trends in rare earth raw material prices, which contribute to the difficulty in increasing market demand.

In terms of news, Northern Rare Earth reported production figures for the third quarter: rare earth oxide production reached 3,998.15 tons, showing a year-on-year increase of 17.66%. Production of rare earth salts amounted to 34,344.85 tons, marking a significant year-on-year increase of 47.90%. Rare earth metal production stood at 7,406.26 tons, reflecting a year-on-year increase of 26.32%. Magnetic materials production reached 13,501.66 tons, indicating a remarkable year-on-year increase of 64.16%. Production of polishing materials amounted to 7,425.44 tons, with a year-on-year increase of 26.03%. Hydrogen storage materials production reached 519.60 tons, representing a year-on-year increase of 25.22%.

Prices of rare earth products on October 30, 2023

Picture of neodymium oxide

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