Chinese Rare Earth Prices - June 3, 2024

At the beginning of the week, Chinese rare earth prices continued the downward trend from last week. Among them, the prices of praseodymium-neodymium metal dropped by another approximately 9,000 yuan per ton, terbium oxide dropped by around 200 yuan per kilogram, and dysprosium iron alloy dropped by about 30,000 yuan per ton. 

It is evident that the price declines for praseodymium, neodymium, terbium, and dysprosium series products have not slowed down. However, there are signs of a halt in the decline of prices for neodymium iron boron ingots and their scraps, which will help slow down the decline in rare earth raw material prices.

According to Chinatungsten Online, the reasons for the current decline in rare earth raw material prices include not only weak buying interest from downstream users and relatively sufficient supply of some rare earth raw materials but also the significant and prolonged increase in rare earth raw material selling prices in the previous period. From April to mid-May, the prices of praseodymium oxide increased by approximately 56,000 yuan per ton, representing a rise of 15.43%; neodymium oxide prices increased by around 58,000 yuan per ton, a rise of 16.11%; praseodymium-neodymium oxide prices increased by about 50,000 yuan per ton, a rise of 13.89%; praseodymium-neodymium metal prices increased by approximately 65,000 yuan per ton, a rise of 14.77%; terbium oxide prices increased by around 1,300 yuan per kilogram, a rise of 24.07%; dysprosium oxide prices increased by about 270,000 yuan per ton, a rise of 14.75%; and dysprosium iron alloy prices increased by approximately 230,000 yuan per ton, a rise of 12.78%.

In terms of news, the "2024-2025 Energy Saving and Carbon Reduction Action Plan" points out that in 2024, the energy consumption and carbon dioxide emissions per unit of GDP will decrease by about 2.5% and 3.9%, respectively. Energy consumption per unit of value added by industrial enterprises above a designated size will decrease by about 3.5%, and the proportion of non-fossil energy consumption will reach about 18.9%. Key areas and industries will achieve energy saving and carbon reduction transformations, resulting in energy savings of about 50 million tons of standard coal and a reduction of approximately 130 million tons of carbon dioxide emissions. By 2025, the proportion of non-fossil energy consumption will reach about 20%, and key areas and industries will achieve energy saving and carbon reduction transformations, resulting in energy savings of about 50 million tons of standard coal and a reduction of approximately 130 million tons of carbon dioxide emissions.

Prices of rare earth products on June 3, 2024

Picture of neodymium oxide

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