Praseodymium-neodymium Oxide Price - January 31, 2024

Chinese rare earth market continues to maintain a sideways trend. With weak supply and demand, the consensus between buyers and sellers is low. As a result, market activity is not high, and product prices are difficult to rise or fall.

Currently, the transaction prices for praseodymium-neodymium oxide, terbium oxide, dysprosium iron alloy, and 52M neodymium iron boron ingots are approximately 401,000 RMB/ton, 5,670 RMB/kg, 1,910,000 RMB/ton, and 225 RMB/kg, respectively.

According to information from China Tungsten Online, positive factors in the market include: first, due to the current less-than-ideal rare earth prices, low temperatures, and strong environmental protection efforts, some rare earth manufacturers have reduced production; second, due to the support of production costs, suppliers have a low willingness to reduce prices. Negative factors include: first, the demand from magnetic materials and polishing powder companies is lower than expected; second, rare earth listed companies are gradually announcing their 2023 performance, and due to the less-than-ideal performance of some companies, it has had a certain adverse impact on the market heating up.

In terms of news, Northern Rare Earth expects to achieve a net profit attributable to the parent company of 2,170 million to 2,330 million RMB in 2023. Compared with the same period of the previous year, it will decrease by 3,650 million to 3,810 million RMB, a year-on-year decrease of 61.00% to 63.67%. It is expected to achieve a non-net profit of 2,040 million to 2,200 million RMB. Compared with the same period of the previous year, it will decrease by 4,000 million to 4,160 million RMB, a year-on-year decrease of 64.50% to 67.10%.

Prices of rare earth products on January 31, 2024

Picture of neodymium oxide

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