Prices of Rare Earth Raw Materials - January 22, 2024

At the beginning of the week, the overall domestic rare earth prices remained stable, mainly due to limited room for suppliers to offer discounts and increased enthusiasm for inquiries and purchases from downstream users. 

According to Chinatungsten Online, the prices of rare earth raw materials have been declining for a long time, and the decline has been significant. At present, many product prices are close to the cost line, leading to a gradual narrowing of the room for suppliers to offer discounts. The main reason for the increase in market demand is the gradual increase in the festive atmosphere leading up to the Chinese New Year. Additionally, the current low prices of rare earth raw materials and the limited remaining inventory of rare earth raw materials in some downstream manufacturing enterprises have accelerated the pace of procurement by buyers.

In terms of news, Ganzhou County has issued an action plan for the modernization of the rare earth new materials and application industry chain in Ganzhou County (2023-2026). The plan aims to achieve a revenue scale of over 30 billion yuan and strives to reach 35 billion yuan for the entire rare earth new materials and application industry chain by 2026. The plan actively encourages enterprises to develop high-end rare earth permanent magnet materials, forming a complete industry chain in the fields of alloys, hydrogen fragmentation, and other subdivisions. It also emphasizes the continuous improvement of the technological level of rare earth resource development and utilization, faster progress in the development and technical promotion of rare earth products, and the realization of an ecological pattern of efficient utilization and intensive development of rare earth resources.

Prices of rare earth products on January 22, 2024

Picture of praseodymium oxide

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