Chinese Rare Earth Price - May 17, 2024

Chinese rare earth price continues to maintain a relatively weak operation overall, mainly attributed to the lower-than-expected consumption capacity of downstream users and an increase in the willingness of some suppliers to sell at lower prices. 

Today, the price of praseodymium-neodymium oxide has dropped by approximately 5,000 yuan per ton, gadolinium oxide by approximately 4,000 yuan per ton, terbium oxide by approximately 50 yuan per kilogram, and dysprosium oxide by approximately 20,000 yuan per ton. With the continuous decline in the selling prices of rare earth raw materials in recent days, there has also been a certain decrease in the prices of rare earth permanent magnet material scrap. However, the price of neodymium iron boron blanks remains relatively strong, providing some support for the confidence of raw material suppliers to hold prices firm.

In recent years, driven by the rapid development of downstream industries such as new energy vehicles, wind power generation, industrial robots, energy-saving frequency conversion air conditioners, and energy-saving elevators, the global consumption of rare earth permanent magnet materials has gradually increased, and it is expected to continue to increase in the future, which will benefit the warming up of the rare earth market. According to a report by Frost & Sullivan, the global consumption of high-performance rare earth permanent magnet materials increased from 47,500 tons in 2018 to 102,500 tons in 2023, with a compound annual growth rate of approximately 16.6%. By 2028, the global consumption of high-performance rare earth permanent magnets is expected to reach 227,100 tons, with a compound annual growth rate of 17.2% from 2023 to 2028.

In terms of news: In 2023, JL MAG Rare-Earth Co., Ltd. achieved a revenue of 6.688 billion yuan, a year-on-year decrease of 6.66%; a net profit attributable to shareholders of the parent company of 564 million yuan, a year-on-year decrease of 19.78%; basic earnings per share of 0.42 yuan, a year-on-year decrease of 20.75%; at the end of the reporting period, the company's total assets were 11.826 billion yuan, a year-on-year increase of 5.40%. During the reporting period, the company's total production of high-performance rare earth permanent magnet materials was 15,154 tons, an increase of 18.52% year-on-year; total sales volume was 15,122 tons, an increase of 25.60% year-on-year.

Prices of rare earth products on May 17, 2024

Picture of neodymium oxide

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