Praseodymium Oxide Prices - February 21, 2024

The overall operation of the domestic rare earth market is relatively weak, mainly manifested in the subdued market sentiment, continued decline in mainstream product prices, and fewer new orders. Today, the prices of praseodymium oxide, neodymium oxide, and terbium oxide have decreased by about 8,000 yuan/ton, 6,000 yuan/ton, and 50 yuan/kg, respectively.

In the light rare earth market, influenced by factors such as lower-than-expected downstream demand, a year-on-year increase in the first batch of light rare earth control indicators this year, and a downward adjustment in the listing price of Northern Rare Earth this month, the prices of praseodymium and neodymium products have declined slightly. In the medium and heavy rare earth market, product prices are partially stable with some minor decreases, mainly due to limited purchasing power of buyers, strong support from production costs, good development of downstream rare earth industries, and the high expectations of some large enterprises for the future rare earth market.

In terms of news: According to statistics from the China Construction Machinery Industry Association on major excavator manufacturers, the sales of various types of excavators reached 12,376 units in January 2024, an increase of 18.5% year-on-year, with 5,421 units sold domestically, an increase of 57.7% year-on-year; and 6,955 units exported, a decrease of 0.73% year-on-year.

Prices of rare earth products on February 21, 2024

Picture of praseodymium oxide

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