Chinese Rare Earth Market - January 19, 2024

This week, Chinese rare earth market showed a pattern of initial suppression followed by a rebound. At the beginning of the week, influenced by factors such as weak downstream demand, low market prosperity, and strong initiative from suppliers to ship goods, prices of praseodymium, neodymium, dysprosium, and terbium series products saw a significant decrease. 

However, nearing the weekend, due to increased purchasing enthusiasm from downstream users at lower prices and enhanced profit awareness among many suppliers, prices of mainstream light and heavy rare earth products rose slightly. However, there is still significant room for improvement in market transactions.

According to statistics from Chinatungsten Online, the current prices compared to last week have increased by approximately 3,000 yuan per ton for praseodymium-neodymium oxide, an increase of 0.75%; 5,000 yuan per ton for praseodymium-neodymium metal, an increase of 1.01%; decreased by 100 yuan per kilogram for terbium oxide, a decrease of 1.67%; decreased by 90,000 yuan per ton for dysprosium oxide, a decrease of 4.41%; decreased by 5 yuan per kilogram for 55N neodymium iron boron blanks, a decrease of 2.27%; and remained unchanged for neodymium iron boron scrap (praseodymium-neodymium). It can be observed that the increase in prices of praseodymium-neodymium products this week is relatively significant, while the decrease in dysprosium-terbium prices has narrowed compared to the previous week.

In terms of news, in the fiscal year 2023, Xiamen Tungsten's rare earth business achieved operating income of 5.471 billion yuan, a year-on-year decrease of 10.89%; and achieved a total profit of 142 million yuan, a year-on-year decrease of 55.19%. Sales of rare earth oxides, rare earth metals, and magnetic materials all increased. However, due to the decline in raw material prices, intensified market competition, and falling product prices, profits decreased year-on-year. 

Prices of rare earth products on January 19, 2024

Picture of neodymium oxide

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