Chinese Rare Earth Prices - June 19, 2024

Chinese rare earth prices fluctuate in a narrow range as a whole. In the case that the problem of oversupply of raw materials has not been solved and the production cost support is strong, traders are generally in a general mood to enter the market, so the transaction is limited. At present, many industry players are waiting for the arrival of the northern rare earth listing price next month.

According to Chinatungsten Online, although the number of inquiries and purchases from downstream users has increased recently, it is still difficult to offset the damage to suppliers caused by the relatively sufficient supply of raw materials and the weak market sentiment to support prices. This is mainly reflected in the fact that the quotations of some products are still declining under the long-term and large decline in the previous product prices. However, due to the gradual reduction in the inventory of raw materials of magnetic material enterprises, the price of rare earths has been close to the cost line, and the gradual recovery of the national economy, the decline in product prices has slowed down.

In terms of news, data from the National Bureau of Statistics showed that in May, the total import and export of goods was 3707.7 billion yuan, an increase of 8.6% year-on-year. Among them, exports were 2147.1 billion yuan, an increase of 11.2%; imports were 1560.7 billion yuan, an increase of 5.2%. After imports and exports, the trade surplus was 586.4 billion yuan. From January to May, the total import and export of goods was 17504.2 billion yuan, an increase of 6.3%. Among them, exports were 9950.2 billion yuan, an increase of 6.1%; imports were 7554.1 billion yuan, an increase of 6.4%. From January to May, general trade imports and exports increased by 5.6%, accounting for 65.1% of the total import and export volume. Imports and exports of private enterprises increased by 11.5%, accounting for 54.7% of the total import and export volume, an increase of 2.6 percentage points over the same period last year. The export of mechanical and electrical products increased by 7.9%, accounting for 59.0% of the total export volume.

Prices of rare earth products on June 19, 2024

Picture of praseodymium oxide

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