Terbium Oxide Price - May 27, 2024

At the beginning of the week, the overall domestic rare earth prices continued the downward trend from last week, mainly due to the low enthusiasm of downstream users for inquiries and purchases, as well as the relatively high inventory levels of some suppliers. Additionally, recent fluctuations in rare earth raw material prices have led to increased panic among some suppliers and a higher awareness of price reductions.

Today, the price of praseodymium oxide has decreased by about 10,000 yuan per ton, the price of terbium oxide has decreased by about 90 yuan per kilogram, and the price of holmium oxide has decreased by about 5,000 yuan per ton.

However, the extent of the decline in rare earth product prices may gradually decrease or even rebound. This is mainly due to several factors: with the onset of the rainy season in Myanmar, the mining output of rare earth mines in Myanmar may decrease, thereby affecting the import volume of rare earth products in China; the acceleration of industrial equipment renewal in many places and the focus on "customized" solutions for digital transformation are conducive to the increase in the usage of rare earth functional materials such as permanent magnet materials.

In terms of news, according to People's Daily, since the official issuance of the "Action Plan for Promoting Large-Scale Equipment Renewal and Trade-in for Consumer Goods" in March, all 31 provinces (autonomous regions, municipalities) have held relevant meetings to promote large-scale equipment renewal and trade-in for consumer goods. Many places have introduced distinctive "customized" plans. For example, Shandong province has proposed solid progress in the "Industry Empowerment Shandong" and "Industry Empowerment Hundred Scenes" special actions; Jilin province is guiding leading enterprises to drive upstream and downstream synchronously in "smart transformation and digitalization"; Jiangxi province aims to promote 1,000 key technological transformation projects annually; Shaanxi province is promoting the construction of industrialization capabilities for green aviation equipment; and Anhui province is focusing on the development of the robot industry to support intelligent equipment supply within the province.

Prices of rare earth products on May 27, 2024

Picture of neodymium oxide

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