Chinese Rare Earth Price - March 8, 2024

This week, Chinese rare earth price has shown a trend of fluctuation and decline, mainly attributed to the strong bearish sentiment in the market and limited support from bullish factors. 

It is worth noting that this week, the trend of praseodymium and neodymium prices experienced a decrease followed by stabilization and then another decrease, while dysprosium and terbium prices fluctuated with a decrease followed by an increase and then another decrease. Among them, the prices of terbium oxide and dysprosium oxide are hovering around 5,350 yuan per kilogram and 1,830,000 yuan per ton, respectively, indicating a strong support from production cost at this level for both oxides.

Positive factors in the market this week include: First, the heightened profit awareness among many suppliers; second, the continuous release of positive news from major enterprises, such as Xiamen Tungsten's wholly-owned subsidiary intending to acquire 90% equity of China Investment Corporation's Laotian rare earth mining company, and Aoyu New Materials agreeing to transfer its 38.72% and 5% stakes in China Rare Earth Group and Aoyu Rare Earth to China Rare Earth Group and China Aoyu, respectively; third, the promising prospects for the development of downstream rare earth industries. This year's "Government Work Report" proposes accelerating the development of frontier emerging industries such as hydrogen energy and new materials, actively creating new growth engines such as commercial aerospace and low-altitude economy.

Negative factors include: First, limited downstream consumption capacity; second, the difficulty in reversing the rare earth market in the short term, which to some extent inhibits the enthusiasm of traders; third, the month-on-month decline in the listing price of northern rare earths this month.

According to statistics from CTIA GROUP LTD, the current prices of praseodymium and neodymium oxide have decreased by about 17,000 yuan/ton compared to last week, a decrease of 4.55%; the prices of praseodymium and neodymium metals have decreased by about 27,000 yuan/ton, a decrease of 5.84% compared to last week; the price of terbium oxide has decreased by about 150 yuan/kg, a decrease of 2.73% compared to last week; the price of dysprosium oxide has decreased by about 20,000 yuan/ton, a decrease of 1.07% compared to last week; the price of 55N neodymium iron boron ingots has decreased by about 10 yuan/kg, a decrease of 5% compared to last week; and the price of neodymium iron boron scrap (praseodymium and neodymium) has decreased by about 10 yuan/kg, a decrease of 3.80% compared to last week. This indicates that with the decline in rare earth raw material prices, the prices of rare earth permanent magnet materials and their scrap have also been adjusted downwards.

Prices of rare earth products on March 8, 2024

Picture of europium oxide

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