Chinese Rare Earth Prices - May 13, 2024

Chinese rare earth prices are currently exhibiting a sideways consolidation trend. Although market demand has fallen short of expectations due to high current prices, existing raw material inventories at downstream production enterprises, and tight liquidity, suppliers have generally maintained firm quotations. 

Some have even attempted slight price increases. This is supported by high production costs, the strategic value of rare earth resources, anticipated reductions in future output, favorable market outlooks, and the continuous introduction of supportive policies. As a result, the buying and selling atmosphere in the market remains relatively subdued.

Notably, in April, the strict enforcement of environmental regulations and the suspension of production for maintenance by some manufacturers led to a slight decline in China's rare earth oxide production, with a significant decrease in Jiangxi Province. Recently, Guangsheng Nonferrous Metals Holding Company's subsidiary, Heli Company, received a "Production Suspension Notice" from the People's Government of Longnan City, Jiangxi Province. The main content of the notice is as follows: Due to the small production capacity of Heli Company, as verified by the industry and information departments of Jiangxi Province and Ganzhou City, it is classified as an eliminated rare earth separation project according to the "Industrial Structure Adjustment Guidance Catalog" (2024 Edition). Heli Company is ordered to immediately stop production upon receiving the notice and undergo social supervision. Production can only resume after completing the necessary rectifications and passing inspections by the industry and information departments of Jiangxi Province, Ganzhou City, and Longnan City.

Prices of rare earth products on May 13, 2024

Picture of praseodymium oxide

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