Chinese Rare Earth Prices - June 21, 2024

This week, Chinese rare earth prices showed an overall pattern of rising first and then falling. 

At the beginning of the week, downstream users' enthusiasm for inquiries and purchases increased and production costs were relatively high, prompting many suppliers to tentatively increase their quotations, among which the price of praseodymium-neodymium oxide increased by about 10,000 yuan/ton, the price of terbium oxide increased by about 100 yuan/kg, and the price of dysprosium oxide increased by about 10,000 yuan/ton. Near the weekend, as some downstream companies have completed their replenishment plans and their fear of high prices has increased, the prices of mainstream rare earth products have turned from rising to falling.

According to statistics from China Tungsten Online, the current price of praseodymium-neodymium oxide has increased by about RMB 1,000/ton compared with last week, an increase of 0.28%; the price of praseodymium-neodymium metal has decreased by about RMB 1,000/ton compared with last week, a decrease of 0.22%; the price of terbium oxide has decreased by about RMB 50/kg compared with last week, a decrease of 0.88%; the price of dysprosium oxide has decreased by about RMB 40,000/ton compared with last week, a decrease of 2.12%; the price of 55N NdFeB blanks and NdFeB scrap (praseodymium-neodymium) has remained the same as last week. It can be seen that the price decline of mainstream light and heavy rare earth products this week is smaller than that of the previous week or two.

In terms of news, data from the National Bureau of Statistics showed that in May 2024, the industrial power generation of enterprises above designated size was 717.9 billion kWh, a year-on-year increase of 2.3%, and the growth rate slowed down by 0.8 percentage points from April; among them, the industrial wind power of enterprises above designated size decreased by 3.3%, and the decline narrowed by 5.1 percentage points from April, and the industrial solar power generation of enterprises above designated size increased by 29.1%, and the growth rate accelerated by 7.7 percentage points from April. From January to May 2024, the industrial power generation of enterprises above designated size was 365.7 billion kWh, a year-on-year increase of 5.5%.

Prices of rare earth products on June 21, 2024

Picture of praseodymium oxide

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