Terbium Oxide Prices - March 20, 2024

Chinese rare earth prices are generally stable, with some experiencing minor declines. This is mainly due to slow downstream demand, relatively ample spot market supply, and limited support from bullish news. 

Specifically, prices for praseodymium-neodymium metal, terbium oxide, and neodymium iron boron terbium scrap have decreased by approximately 2,000 yuan per ton, 50 yuan per kilogram, and 60 yuan per kilogram, respectively. It is worth noting that, supported by production cost considerations, the recent decline in prices of rare earth raw materials, rare earth permanent magnet materials, and their scrap has slowed down.

From the supply side, influenced by factors such as current high production costs, weak downstream purchasing enthusiasm, and low product prices, some rare earth manufacturers have slow capacity expansion. Moreover, due to the limited amount of rare earth raw material imports into China, the growth rate of spot market inventory is even slower. According to customs data, in the first two months of 2024, China's rare earth imports were about 22,285 tons, a decrease of nearly 19% compared to the same period last year. From the demand side, due to downstream users primarily signing long-term contracts and a bleak outlook for the rare earth market, the atmosphere for buying and selling in the market is subdued.

According to data from the National Bureau of Statistics, from January to February 2024, the national industrial power generation reached 1.487 trillion kilowatt-hours, an increase of 8.3% year-on-year, and the growth rate was 0.3 percentage points faster than that of December last year. The average daily power generation was 247.8 billion kilowatt-hours. In terms of different types, the growth rate of industrial thermal power generation accelerated, while that of hydroelectric, wind, and solar power generation slowed down, and nuclear power changed from a decline to an increase. Specifically, industrial thermal power generation increased by 9.7%, with the growth rate accelerating by 0.4 percentage points compared to December last year; industrial hydroelectric power increased by 0.8%, with the growth rate slowing down by 1.7 percentage points; industrial nuclear power increased by 3.5%, compared to a decrease of 4.2% in December last year; industrial wind power increased by 5.8%, with the growth rate slowing down by 1.6 percentage points; industrial solar power generation increased by 15.4%, with the growth rate slowing down by 1.8 percentage points.

Prices of rare earth products on March 20, 2024

Picture of neodymium oxide

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