Dysprosium Oxide Prices - April 15, 2024

At the beginning of the week, the overall domestic rare earth market continued to show a pattern of stability with a slight upward trend. This was driven by increased inquiries and purchases from downstream users, a slowdown in the release of production capacity by some manufacturers, and the continuous emergence of positive market news, prompting many suppliers to continuously raise their prices. 

As a result, the supply of low-priced goods in the market has decreased. Today, the prices of praseodymium-neodymium oxide, terbium oxide, and dysprosium oxide have respectively risen to around 386,000 yuan/ton, 6,300 yuan/kg, and 2,020,000 yuan/ton.

According to Chinatungsten Online, the positive market news includes the "Implementation Plan to Promote Equipment Renewal in the Industrial Sector," which proposes that by 2027, the investment scale in equipment in the industrial sector will increase by more than 25% compared to 2023, and the popularity rate of digital research and development tools and the rate of numerical control in key processes of large-scale industrial enterprises will exceed 90% and 75%, respectively. According to analysis by the China Association of Automobile Manufacturers, after the Spring Festival, the production and operation activities of enterprises have accelerated, the prosperity of the manufacturing industry has significantly expanded, returning to the expansion range, and market expectations continue to improve.

It is worth mentioning that there are still certain bearish factors in the rare earth market, so investors should be cautious. For example, with the continuous rise in the prices of rare earth raw materials, consumers' fear of heights and wait-and-see sentiment have intensified; the rise in prices of rare earth permanent magnet materials and their scrap materials has been difficult, which is not conducive to the rise in upstream raw material prices.

In terms of news: According to data from the China Association of Automobile Manufacturers, in March 2024, automobile production and sales completed 2.687 million and 2.694 million vehicles respectively, an increase of 78.4% and 70.2% month-on-month, and an increase of 4% and 9.9% year-on-year, respectively. After the holiday, a large number of new cars were launched, and offline activities such as auto shows gradually resumed. Some regions introduced promotional policies such as trade-in programs, driving rapid growth in automobile sales both month-on-month and year-on-year.

Prices of rare earth products on April 15, 2024

Picture of neodymium oxide

Follow our WeChat to know the latest tungsten price, information and market analysis.

• < Prev
• Next >