Erbium Oxide Prices - November 29, 2023

The overall rare earth market in China is relatively weak. Apart from the widespread decline in mainstream light and heavy rare earth prices, this is also reflected in the lack of enthusiasm among traders and the scarcity of new orders. In this situation, some industry insiders predict that the market is unlikely to rebound in the short term.

In the light rare earth market, prices of praseodymium and neodymium series products have experienced a certain degree of decline. This is mainly due to slow downstream demand and an abundance of spot supply in the market. It is worth noting that metal production enterprises currently face a significant risk of cost inversion. In the medium and heavy rare earth market, there is an overall pattern of alternating ups and downs. 

Faced with limited consumption capacity from downstream users and the contradiction of not having low production cost support, some suppliers are rationalizing their prices. Prices of gadolinium oxide, erbium oxide, and holmium oxide have all decreased by around 5,000 yuan per ton. However, some suppliers have a strong inclination to raise prices, such as an increase of around 10,000 yuan per ton for dysprosium iron alloy.

In terms of news, according to information from the Baotou Industry and Information Bureau, from January to October 2023, the city's industrial value-added increased by 22.9% year-on-year, with growth rates surpassing both the national average (4.1%) and the regional average (7.4%) by 18.8 and 15.5 percentage points, respectively. In particular, the value-added of the rare earth industry increased by 22.8% year-on-year, contributing 20.7% to the value-added of large-scale industries and driving an increase of 4.7 percentage points in large-scale industries.

Prices of rare earth products on November 29, 2023

Picture of praseodymium oxide

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

• < Prev
• Next >