Chinese Rare Earth Market - January 26, 2024

This week, the overall situation in the Chinese rare earth market remains relatively stable. At the beginning of the week, influenced by increased downstream inquiries, moderate spot supply, and strong support from production costs, prices of praseodymium, neodymium, dysprosium, and terbium series products remained stable. 

However, as the week approached its end, some suppliers rationalized discounts due to slow downstream demand follow-up and the need to recoup funds. It is worth noting that the price of dysprosium and terbium has experienced a significant decrease recently as the market anticipates an increase in production this month.

According to statistics from Chinatungsten Online, the current price of praseodymium-neodymium oxide has decreased by approximately CNY 2,000 per ton compared to last week, representing a decrease of 0.50%. The price of praseodymium-neodymium metal remains stable compared to last week. The price of terbium oxide has decreased by approximately CNY 230 per kilogram, reflecting a decrease of 3.90%. The price of dysprosium oxide has decreased by approximately CNY 20,000 per ton, indicating a decrease of 1.03%. The price of 55N neodymium iron boron ingots has decreased by approximately CNY 5 per kilogram, reflecting a decrease of 2.33%. The price of neodymium iron boron scrap (praseodymium-neodymium) remains stable compared to last week.

In terms of news, data from Baotou Statistics Bureau shows that in 2023, Baotou's industrial enterprises above a certain scale generated 86.6 billion kilowatt-hours of electricity, a 7.0% increase compared to the previous year. Among them, the electricity generated from new energy sources was 15.17 billion kilowatt-hours, representing an 8.8% increase. The total electricity consumption in society was 102.04 billion kilowatt-hours, a 22.5% increase compared to the previous year. Industrial electricity consumption reached 96.23 billion kilowatt-hours, indicating a growth of 22.9%. These figures release positive signals about the stability and improvement of the industrial economy.

Prices of rare earth products on January 26, 2024

Picture of dysprosium oxide

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