Chinese Rare Earth Market - November 24, 2023

This week, the overall activity in the Chinese rare earth market is moderate. Under the influence of various uncertainties, there is a divergence in the price trends of light and heavy rare earths. 

Specifically, the prices of praseodymium and neodymium (PrNd) have been continuously adjusted downward, while the prices of dysprosium and terbium (DyTb) remained stable initially and then experienced a significant increase.

According to information from Chinatungsten Online, the main reason for the continued decline in PrNd prices is that many magnetic material companies are primarily focused on depleting their inventories. However, the narrowing of the decline on a daily basis is mainly due to the fact that current PrNd prices are at a relatively low level and are supported by cost factors. Factors contributing to the rise in DyTb prices include the renewed strengthening of rare earth resource integration (China Rare Earth plans to acquire 94.67% equity of China Minmetals Rare Earth for nearly CNY 1.5 billion) and an increased awareness of profitability among suppliers.

As per the information from Zhongwu Online, the current prices are as follows compared to last week: praseodymium and neodymium oxide prices decreased by approximately CNY 9,000/ton, a decrease of 1.79%; praseodymium and neodymium metal prices decreased by approximately CNY 15,000/ton, a decrease of 2.42%; terbium oxide prices increased by approximately CNY 270/kg, an increase of 3.65%; dysprosium oxide prices increased by approximately CNY 90,000/ton, an increase of 3.56%; the price of 55N neodymium iron boron blanks remained unchanged; and the price of neodymium iron boron waste (PrNd) decreased by approximately CNY 15/kg, a decrease of 2.80%.

Prices of rare earth products on November 24, 2023

Picture of cerium oxide

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