Dysprosium Oxide Prices – May 20, 2024

The overall situation in the Chinese rare earth market is relatively average, characterized by weak supply and demand, with both buyers and sellers largely maintaining just-in-time transactions, resulting in low market activity and slow order growth. 

Today, the prices of praseodymium-neodymium metal, terbium oxide, and dysprosium oxide are temporarily stable at around 500,000 yuan/ton, 6,600 yuan/kg, and 2,070,000 yuan/ton, respectively.

As one of the important application fields of high-performance neodymium-iron-boron permanent magnet materials, the rapid development of the energy-efficient home appliance industry will increase the consumption of rare earth raw materials to some extent, thereby favoring suppliers to hold firm on prices. According to a report by Frost & Sullivan, the global consumption of rare earth permanent magnet materials in the energy-efficient variable frequency air conditioning market increased from 6,300 tons in 2018 to 12,900 tons in 2023, with a compound annual growth rate of approximately 15.4%. By 2028, the global consumption of rare earth permanent magnet materials in energy-efficient variable frequency air conditioners will reach 22,700 tons, with a compound annual growth rate of approximately 12.0% from 2023 to 2028.

According to a report from Baotou Daily, on May 20th, the Wulong Baotou Permanent Magnet Motor Industry Park project broke ground. After completion, the project will have an annual production capacity of 52,000 sets of new energy vehicle motors, 32,000 low-speed high-power permanent magnet motors, 1,300 wind power generators, 20,000 tons of castings, and 100MWh of energy storage system integration, which will help Baotou City to build a complete industry chain from rare earth magnetic materials to permanent magnet power components to application scenarios, promote the clustered development of the permanent magnet motor industry, and provide strong support for the construction of "two rare earth bases".

Prices of rare earth products on May 20, 2024

Picture of erbium oxide

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