Dysprosium Oxide Price – May 29, 2024

The overall situation in the domestic rare earth market continues to be relatively weak. Despite the support from gradually strengthening production cost support, the good development of downstream industries such as wind power generation, and the continuous emergence of favorable news, many suppliers have a strong inclination to hold prices. 

However, it is still difficult to stabilize prices. This is mainly due to the low number of inquiries from downstream users and the high pressure to lower prices. In order to realize cash flow and maintain normal operations, some suppliers have to reduce prices. Today, prices of products in the praseodymium, neodymium, dysprosium, and terbium series have generally decreased, with prices of praseodymium-neodymium metal falling by approximately 6,000 yuan per ton, dysprosium oxide by approximately 50,000 yuan per ton, and terbium oxide by approximately 100 yuan per kilogram.

In terms of demand, due to the relatively sufficient spot supply in the current market and the limited orders from magnetic material companies and other downstream rare earth production enterprises, the demand for rare earth raw materials in the market is relatively low. However, some industry insiders still have confidence in the future market. According to the "Global Minerals Outlook 2024" released by the International Energy Agency, in the Stated Policies Scenario (STEPS), the total demand for rare earth elements is forecasted as follows: by 2030, the total demand for rare earth elements is estimated to be 127 kilotons; by 2040, the total demand is estimated to be 153 kilotons; by 2050, the total demand is estimated to be 180 kilotons.

In terms of news, data from the National Bureau of Statistics shows that from January to April 2024, the total profit of industrial enterprises above designated size in China reached 2.09469 trillion yuan, a year-on-year increase of 4.3%. Among them, the non-ferrous metal smelting and rolling processing industry increased by 56.6%, the electricity, heat production, and supply industry increased by 44.1%, the automobile manufacturing industry increased by 29.0%, the chemical raw materials and chemical products manufacturing industry increased by 8.4%, the general equipment manufacturing industry increased by 6.2%, the petroleum and natural gas extraction industry increased by 4.3%, the electrical machinery and equipment manufacturing industry decreased by 4.7%, the special equipment manufacturing industry decreased by 7.3%, and the non-metallic mineral products industry decreased by 53.9%.

Prices of rare earth products on May 29, 2024

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Picture of erbium oxide

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