Light and Heavy Rare Earth Prices - April 26, 2024

This week, the overall prices of mainstream light and heavy rare earth products in the domestic market showed a trend of fluctuating upward. 

This is mainly due to the willingness of downstream users to purchase at low prices and the weak price-cutting consciousness of suppliers. Today, the prices of praseodymium oxide, neodymium oxide, and gadolinium oxide rose to around 409,000 yuan per ton, 400,000 yuan per ton, and 190,000 yuan per ton, respectively.

According to Chinatungsten Online’s statistics, the current price of neodymium oxide rose by about 12,000 yuan per ton compared to last week, an increase of 3.09%; the price of praseodymium-neodymium metal rose by about 10,000 yuan per ton, an increase of 2.06% compared to last week; the price of terbium oxide rose by about 80 yuan per kilogram, an increase of 1.25% compared to last week; the price of dysprosium oxide rose by about 10,000 yuan per ton, an increase of 0.49% compared to last week; the price of 55N neodymium iron boron ingots remained unchanged from last week; the price of neodymium iron boron scrap (praseodymium-neodymium) rose by about 13 yuan per kilogram, an increase of 3.06%. It can be seen that the price increase of praseodymium-neodymium products this week is relatively large.

According to Chinatungsten Online, the rare earth industry is currently facing pressure from low prices, leading to a narrowing of the profit margins in the recycling industry. This further limits the industry's subsequent expansion, thereby favoring suppliers' price increases. In addition, rare earth permanent magnet motors have significant energy-saving effects and a low market penetration rate. Therefore, with the strengthening of energy efficiency supervision and the implementation of the "replace old with new" policy, the future industrial motor sector's usage of rare earth products may significantly increase.

In terms of news, Baotou Steel Group's production of rare earth concentrate in 2023 was 357,104.06 tons, with sales of 346,945.86 tons and an average selling price of 26,256.04 yuan per ton. The production of fluorite was 502,376.00 tons, with sales of 312,676.43 tons and an average selling price of 1,852.17 yuan per ton.

Prices of rare earth products on April 26, 2024

Picture of erbium oxide

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