Chinese Rare Earth Market Update - December 25, 2023

Rare Earth Market Update - December 25, 2023

At the beginning of the week, the domestic Chinese rare earth market continued to maintain a relatively weak performance. 

The market's overall lackluster momentum can be attributed not only to the low enthusiasm for purchasing among downstream users but also to the abundance of spot inventory and tight liquidity, prompting numerous suppliers to strongly consider price reductions. This has been a significant factor contributing to the difficulty in elevating market activity. However, influenced by robust support from production cost factors and a reduction in output from some mining companies, certain holders are showing a strong inclination to hold onto their inventory and support prices.

According to information gathered by China Tungsten Online, the current prices for praseodymium-neodymium oxide and dysprosium oxide are stabilizing around ¥448,000/ton and ¥2,670,000/ton, respectively.

On the news front, data from the Baotou Municipal Bureau of Industry and Information Technology reveals that from January to November 2023, the city's large-scale industrial enterprises generated 791.7 billion kilowatt-hours of electricity, marking a 7.6% year-on-year increase. Notably, thermal power generation reached 655.4 billion kilowatt-hours, growing by 7.1%, while new energy generation achieved 137.9 billion kilowatt-hours, demonstrating a 9.8% increase. This positive performance in electricity generation signals stability and progress in the industrial economy.

Prices of rare earth products on December 25, 2023

Picture of lanthanum oxide

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