Dysprosium Oxide Prices - April 22, 2024

At the beginning of the week, Chinese rare earth market was moderate, mainly characterized by fluctuations in prices of mainstream products within a reasonable range, strong confidence among suppliers to stabilize prices, and persistent downward pressure from downstream users. 

This is mainly due to strong support from production costs, a steady increase in spot supply in the market, insufficient pull from downstream demand, and positive expectations for the future of the rare earth industry. Today, the prices of praseodymium-neodymium oxide, terbium oxide, and dysprosium oxide remained stable at around 388,000 yuan per ton, 6,400 yuan per kilogram, and 1,980,000 yuan per ton, respectively.

It is worth mentioning that with the gradual implementation of the "14th Five-Year Plan", the deepening of the "Belt and Road" initiative, the continuous advancement of the "Made in China 2025" goal, the innovative integration of the "Internet Plus" strategy, and the resolute implementation of the "Dual Carbon" and "Dual Control" policies, we have ushered in new opportunities to expand domestic demand and stimulate consumption. The implementation of these strategies will greatly promote the expansion of the rare earth application field to broader horizons, and the new energy and new materials industries will also enter a golden period of accelerated development. This series of positive factors injects new vitality into the rare earth market, becoming an important growth engine for its continued expansion and revitalization.

In terms of news: In the first quarter of 2024, Xiamen Tungsten's rare earth business achieved operating income of 912 million yuan, a year-on-year decrease of 26.66%; and realized a total profit of 40 million yuan, a year-on-year decrease of 64.79%. This is mainly due to the integration with China Rare Earth Group, and the separation of Longyan Rare Earth Company and Jinlong Rare Earth Smelting Division from the consolidated financial statements. The attributable profits of these businesses saw a significant decrease year-on-year. Additionally, the decline in raw material prices and increased competition resulted in a decrease in profitability for rare earth deep processing products.

Prices of rare earth products on April 22, 2024

Picture of neodymium oxide

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