Neodymium Oxide Price - May 22, 2024

Rare earth market quotation in China: domestic rare earth price

Chinese mainstream light and heavy rare earth product prices have significantly decreased, with the price of neodymium oxide dropping by approximately 9,000 yuan per ton, praseodymium-neodymium metal by approximately 8,000 yuan per ton, and dysprosium iron alloy by approximately 20,000 yuan per ton.

This is mainly due to the continued weak downstream demand and a slight loosening of confidence among many suppliers in maintaining prices. In this situation, industry players are particularly concerned about the purchasing behavior of downstream users at low prices.

However, despite the recent weak consolidation of rare earth raw material prices, the prices of rare earth permanent magnet materials and their scrap materials remain relatively stable. This suggests that the downward space for rare earth raw material prices may gradually shrink. According to a report by Frost & Sullivan, by 2028, the global industrial robot market's consumption of rare earth permanent magnet materials will reach 6,600 tons, with a compound annual growth rate of 13.5% from 2023 to 2028. The global humanoid robot market's consumption of rare earth permanent magnet materials will reach 2,887.5 tons, with a compound annual growth rate of approximately 162.2% from 2023 to 2028.

In terms of news, Ningbo Yunsheng achieved operating income of 1.026 billion yuan in the first quarter of 2024, a year-on-year decrease of 28.25%. It realized a net profit attributable to shareholders of -430,000 yuan, turning from profit to loss year-on-year. It generated a net cash flow from operating activities of 5.23 million yuan, turning positive year-on-year. The asset-liability ratio was 32.91%, a decrease of 4.03 percentage points year-on-year.

Prices of rare earth products on May 22, 2024

Picture of praseodymium oxide

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