Chinese Rare Earth Prices - February 26, 2024

At the beginning of the week, Chinese rare earth prices continued to show a downward trend, with the prices of praseodymium-neodymium oxide, gadolinium oxide, and neodymium iron boron scrap (terbium) falling below the thresholds of 380,000 yuan per ton, 170,000 yuan per ton, and 5,500 yuan per kilogram, respectively. This is mainly due to the recent strong bearish sentiment in the market.

According to insights from CTIA GROUP LTD, current bearish factors in the market include: First, downstream users mainly rely on long-term contracts for delivery and purchase on demand; second, influenced by insufficient liquidity, some suppliers have once again strengthened their willingness to offer discounts; third, the current market spot supply is relatively sufficient. Bullish factors include: First, supported by production costs, suppliers have limited room for offering discounts, and some companies even maintain strong quotations; second, after the Lantern Festival, the market outlook is positive, with expectations of increased downstream demand after the holiday.

In terms of news: According to information from the Jiangxi Provincial Development and Reform Commission, rare earth prices in Jiangxi fell in January 2024, while the price of tungsten concentrate remained stable. In January, the average selling prices per ton of high-yttrium oxide (rare earth) and medium-yttrium europium compound (rare earth) in Ganzhou were 205,000 yuan and 165,000 yuan, respectively, with month-on-month decreases of 24.07% and 21.43%, and year-on-year decreases of 47.44% and 48.44%, respectively. The average selling price per ton of tungsten concentrate in Ganzhou was 121,000 yuan, unchanged month-on-month, and up 4.31% year-on-year.

Prices of rare earth products on February 26, 2024

Picture of dysprosium oxide

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