Chinese Rare Earth Market - February 5, 2024

Chinese rare earth market is overall maintaining stable operation on February 5, 2024. With the approaching Spring Festival holiday, downstream users have essentially completed their procurement plans, and logistics operations are relatively slow. 

In this situation, and considering that the product prices are not very lucrative, rare earth smelting and separation enterprises have reduced their production output. Currently, market participants are closely monitoring the future operation of the rare earth market. Presently, the prices of praseodymium-neodymium metal, holmium oxide, and 52M neodymium iron boron ingots are approximately 401,000 yuan/ton, 410,000 yuan/ton, and 225 yuan/kg, respectively.

On the news front, data from the National Energy Administration shows that by the end of December 2023, the cumulative installed power generation capacity nationwide is approximately 2.92 billion kilowatts, a year-on-year increase of 13.9%. Among them, the installed capacity of wind power is about 440 million kilowatts, a year-on-year increase of 20.7%. In 2023, the national newly added wind power grid-connected capacity is 75.9 million kilowatts, a year-on-year increase of 102%.

Prices of rare earth products on February 5, 2024

Chinese rare earth price image

Picture of neodymium oxide

neodymium oxide image

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