Chinese Rare Earth Price - February 23, 2024

After the first week back from the Spring Festival holiday, Chinese rare earth price overall showed a pattern of stability followed by a decline. 

At the beginning of the week, due to the support from magnetic materials and polishing powder companies replenishing their stocks, rare earth raw material suppliers' quotations remained relatively firm. However, as the weekend approached, due to slow follow-up from downstream demand, increased production of some rare earth products, and poor expectations for the future market, suppliers' willingness to offer discounts generally increased in exchange for more orders.

According to statistics from CTIA GROUP LTD, the current price of praseodymium-neodymium oxide has decreased by about 19,000 yuan per ton since before the Spring Festival, with a decrease of 4.74%; the price of praseodymium-neodymium metal has decreased by about 13,000 yuan per ton since before the Spring Festival, with a decrease of 2.61%; the price of terbium oxide has decreased by about 220 yuan per kilogram since before the Spring Festival, with a decrease of 3.88%; the price of dysprosium oxide has decreased by about 60,000 yuan per ton since before the Spring Festival, with a decrease of 3.11%; the price of 55N neodymium iron boron ingots has decreased by about 10 yuan per kilogram since before the Spring Festival, with a decrease of 4.76%; and the price of neodymium iron boron waste (praseodymium-neodymium) has decreased by about 10 yuan per kilogram since before the Spring Festival, with a decrease of 2.47%. It can be seen that the prices of rare earth oxides have declined significantly. Due to the continuous decline in rare earth raw material prices, the prices of magnetic materials and their waste have also declined.

In terms of news: According to data from the China Academy of Information and Communications Technology, in 2023, the total shipments of mobile phones in the Chinese market reached 289 million units, a year-on-year increase of 6.5%; among them, the shipments of 5G mobile phones reached 240 million units, a year-on-year increase of 11.9%, accounting for 82.8% of the total shipments of mobile phones during the same period. In 2023, the cumulative shipments of domestic brand mobile phones reached 231 million units, a year-on-year increase of 1.1%, accounting for 79.9% of the total shipments of mobile phones during the same period; there were a total of 406 new models launched, a year-on-year increase of 5.5%, accounting for 92.1% of the total number of new models launched during the same period.

Prices of rare earth products on February 23, 2024

Picture of erbium oxide

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