Dysprosium Oxide Prices - March 13, 2024

The domestic rare earth market is stabilizing, mainly due to the increasing awareness among suppliers to avoid the inverted cost-profit scenario and the continuous release of positive news. 

Today, the prices of praseodymium oxide, dysprosium oxide, and gadolinium oxide are temporarily stable at around 367,000 yuan/ton, 1,840,000 yuan/ton, and 164,000 yuan/ton respectively, while the price of holmium oxide has increased by about 5,000 yuan/ton.

Positive news includes: First, National Committee of the Chinese People's Political Consultative Conference (CPPCC) member Yu Jian suggested strengthening top-level design and coordinating the formulation of talent planning for the rare earth industry; implementing hierarchical construction of rare earth industry talents, and so on. Second, the rapid development of humanoid robots is conducive to the growth of demand for rare earth permanent magnet materials. According to forecasts, the demand for neodymium iron boron in the global industrial robot field is expected to reach 25,000 tons by 2026, with a compound annual growth rate (CAGR) of 10% over the next three years. Third, although the control indicators for the first batch of rare earth mining, smelting, and separation in 2024 increased by more than 10% compared to the previous year, the growth rate slowed significantly compared to previous years, with a CAGR of up to 19% for rock ore quotas from 2018 to 2023.

Prices of rare earth products on March 13, 2024

Picture of dysprosium oxide

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