Chinese Rare Earth Prices - May 10, 2024

Chinese rare earth prices remain relatively stable. With the supply and demand balance relatively stable and limited boost from positive news, both buyers and sellers are primarily engaging in essential transactions, resulting in few new orders. Today, the prices of praseodymium oxide, terbium oxide, and erbium oxide are holding steady at around 407,000 yuan per ton, 6,600 yuan per kilogram, and 315,000 yuan per ton, respectively.

Regarding supply, with the downstream demand relatively weak and rare earth manufacturers maintaining normal production, there is currently an ample supply in the market, although there may be some reduction in the later period. This is mainly due to factors such as the gradually increasing temperature, which will increase the difficulty coefficient of rare earth mining enterprises, and the limited import volume of rare earths in China. Customs data shows that in the first four months of 2024, China's rare earth imports amounted to approximately 48,843 tons, a year-on-year decrease of about 18%; among which, the import volume in April was approximately 13,146 tons, a year-on-year decrease of about 33%.

In terms of news, in the first quarter of 2024, Zhongke Sanhuan achieved revenue of 1.652 billion yuan, a year-on-year decrease of 25.43%; the net profit attributable to shareholders was 98.74 million yuan, a year-on-year decrease of 197.63%; the non-net profit was 108 million yuan, a year-on-year decrease of 216.64%; the net cash flow generated from operating activities was 169 million yuan, a year-on-year decrease of 65.87%; the basic earnings per share was -0.0812 yuan; and at the end of the reporting period, the total assets were 10.761 billion yuan, a year-on-year decrease of 4.07%.

Prices of rare earth products on May 10, 2024

Picture of neodymium oxide

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