Praseodymium Oxide Price - June 13, 2024

Chinese rare earth prices have moved down slightly again, among which the price of praseodymium oxide has dropped by about RMB 5,000/ton, the price of praseodymium-neodymium oxide has dropped by about RMB 6,000/ton, and the price of gadolinium oxide has dropped by about RMB 2,000/ton. 

With the recent continuous decline in raw material prices and the slow pace of consumption by downstream users, the prices of rare earth permanent magnet materials and their waste have also declined. It is worth mentioning that the market transaction volume has not increased significantly with the decline in product prices.

According to Chinatungsten Online, due to the low price of rare earth products, weak downstream demand, high temperature and rainfall, and strong environmental protection crackdown, the production of many rare earth manufacturers has been reduced recently. In addition, the limited import volume of Myanmar ore is more conducive to the firmness of the quotations of holders. In May, the production of praseodymium-neodymium oxide, dysprosium oxide and gadolinium oxide in my country decreased by about 1.29%, 0.81% and 1.02% respectively.

According to the news from the China Geological Survey, the project of "Research on Green and Low-carbon Development Strategy of Rare Earth Resources in Sichuan Province" has made important progress. The research team studied and analyzed the current status and main problems of Sichuan's rare earth industry, focusing on the green transformation of Sichuan's rare earth exploration and development, large-scale development of smelting and separation, and forward-looking layout of high-end materials. It put forward suggestions on making good use of both international and domestic resources, building green mines, developing green metallurgy, strengthening scientific and technological innovation, promoting the transformation of results, creating a green and compliant production base for global rare earth primary products, and promoting the high-quality development of Sichuan's rare earth industry.

Prices of rare earth products on June 13, 2024

Picture of praseodymium oxide

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