Erbium Oxide Prices - January 24, 2024

The overall domestic rare earth prices have shown no significant changes on January 24, 2024. With a slightly stagnant atmosphere in negotiations between buyers and sellers, the market activity is relatively low, and the order growth is slow. 

Currently, the prices for praseodymium-neodymium oxide, erbium oxide, and 55N neodymium iron boron ingots remain stable at around CNY 403,000 per ton, CNY 290,000 per ton, and CNY 215 per kilogram, respectively.

According to information gathered by Chinatungsten Online, positive factors include: firstly, with the approaching Chinese New Year, some companies have advanced their holiday periods compared to previous years, leading to increased enthusiasm for procurement inquiries in recent days; secondly, influenced by factors such as the current low selling prices of rare earth products, extreme weather conditions, and enhanced environmental protection efforts in some regions, some rare earth manufacturers have slightly reduced production capacity.

Negative factors include: firstly, although some downstream users have shown increased initiative in stockpiling in recent days, overall market demand remains relatively low, hindering an upward adjustment in rare earth prices; secondly, the increase in the total control indicators for rare earth mining, smelting, and separation plans is not conducive to enhancing consumer awareness, with year-on-year increases of approximately 21.43% and 20.72% respectively in the total control indicators for rare earth mining, smelting, and separation for 2023; thirdly, as the end of the year approaches, some holders are actively lowering prices to sell off inventory and recover funds.

In terms of news: According to data from the National Bureau of Statistics, in 2023, the total fixed asset investment (excluding rural households) in the country was CNY 50.36 trillion, an increase of 3.0% over the previous year. Among them, investment in the manufacturing industry increased by 6.5%, with a growth rate that accelerated by 0.2 percentage points; infrastructure investment (excluding electricity, heat, gas, water production, and supply) increased by 5.9%, with a growth rate that accelerated by 0.1 percentage point. Specifically, investment in the mining industry increased by 2.1%, and investment in the electricity, heat, gas, and water production and supply industry increased by 23.0%.Prices of rare earth products on January 24, 2024

Picture of neodymium oxide

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