Praseodymium Oxide Price - June 24, 2024

At the beginning of the week, the domestic Chinese rare earth market showed a mixed pattern of ups and downs. Under the influence of many uncertain factors, the mentality of light and heavy rare earth traders was different, mainly reflected in the tentative increase in the price of praseodymium and neodymium, while the price of dysprosium and terbium continued to fall. 

At present, the price of praseodymium oxide has increased by about 2,000 yuan/ton, the price of praseodymium and neodymium metal has increased by about 3,000 yuan/ton, the price of terbium oxide has dropped by about 50 yuan/kg, and the price of dysprosium oxide has dropped by about 20,000 yuan/ton.

From the perspective of positive factors, first, supported by production costs, some suppliers are less willing to make profits; second, there are more extreme weather, which has greatly increased the difficulty of mining enterprises. In addition, the current low price of rare earth products makes it more difficult for rare earth manufacturers to increase production, which helps to increase rare earth prices. From the perspective of negative factors, first, in order to avoid the risk of cost inversion, magnetic material companies have fewer inquiries; second, most metal manufacturers mainly rely on OEM long-term contracts for delivery, which is not conducive to the warming of the rare earth market.

Prices of rare earth products on June 24, 2024

Picture of erbium oxide

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