Chinese Rare Earth Market - January 17, 2024

Chinese rare earth market is currently caught in a dilemma, influenced by factors such as the difficulty in increasing downstream demand, continuous release of manufacturing capacity by producers, and tight capital conditions. 

Some holders are actively willing to sell, hindering the upward movement of rare earth prices. However, due to the current low prices of rare earth raw materials, increased profit awareness among many suppliers, and positive prospects for the development of downstream rare earth industries, some holders have a relatively low willingness to lower prices. In this situation, market trading activity is subdued, and there are few new orders.

In other news, the latest data from the Ministry of Industry and Information Technology shows that from January to December 2023, the national shipbuilding completion volume was 42.32 million deadweight tons, a year-on-year increase of 11.8%. The volume of new orders received during the same period was 71.20 million deadweight tons, marking a YoY growth of 56.4%. From January to December, China's shipbuilding completion volume, new order volume, and order backlog volume accounted for 50.2%, 66.6%, and 55.0%, respectively, in terms of deadweight tons, maintaining the world's first position in these indicators.

Prices of rare earth products on January 17, 2024

Picture of erbium oxide

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