Dysprosium Iron Price - June 17, 2024

At the beginning of the week, Chinese rare earth prices were partially stable and slightly increased in some cases, among which the price of praseodymium-neodymium metal increased by about RMB 3,000/ton and the price of dysprosium iron alloy increased by about RMB 10,000/ton. 

According to Chinatungsten Online, factors such as the large amount of spot inventory of some rare earth raw materials and the high market sentiment of buying high and not buying low are important reasons for the difficulty in increasing demand from downstream users. However, due to the strong support of production costs and the slowdown in the release of production capacity of some manufacturers, the confidence of many holders in stabilizing prices has increased. Under this situation, the market buying and selling atmosphere is relatively weak, and most of them are mainly on the sidelines.

In terms of news, automobiles are one of the important application areas of rare earth permanent magnet materials. In May 2024, my country's automobile production and sales reached 2.372 million and 2.417 million respectively, up 1.7% and 1.5% year-on-year respectively; among them, the production and sales of new energy vehicles reached 940,000 and 955,000 respectively, up 31.9% and 33.3% year-on-year respectively. From January to May 2024, my country's automobile production and sales reached 11.384 million and 11.496 million respectively, up 6.5% and 8.3% year-on-year respectively; among them, the production and sales of new energy vehicles reached 3.926 million and 3.895 million respectively, up 30.7% and 32.5% year-on-year respectively; the sales of new energy vehicles reached 33.9% of the total sales of new vehicles.

Prices of rare earth products on June 17, 2024

Picture of praseodymium oxide

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