Chinese Rare Earth Prices - April 17, 2024

Chinese rare earth prices are generally fluctuating within a narrow range, mainly due to limited room for price concessions from suppliers and increasing pressure from buyers to lower prices. 

Today, the prices of praseodymium oxide, terbium oxide, and dysprosium oxide are approximately 392,000 yuan/ton, 6,450 yuan/kg, and 2,030,000 yuan/ton, respectively.

According to Chinatungsten Online, factors such as the relatively low prices of rare earth products, strong support from production costs, some buyers still willing to enter the market for consumption, and the promising prospects of downstream industries (such as new energy vehicles and industrial robots) have largely boosted suppliers' confidence in holding prices. However, with recent fluctuations in rare earth prices and some downstream users completing their purchasing plans, there is a growing atmosphere of market watchfulness and pressure to lower prices.

In terms of news: On April 16th, the National Development and Reform Commission announced that, in response to recent changes in international oil prices, according to the current mechanism for determining refined oil prices, starting from 24:00 on April 16, 2024, domestic gasoline and diesel prices (standard products) would each be increased by 200 yuan/ton and 195 yuan/ton respectively. The increase in oil prices is one of the reasons for the increased production costs for rare earth manufacturers.

Prices of rare earth products on April 17, 2024

Picture of neodymium oxide

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