This Week's Chinese Rare Earth Market Overview – July 5, 2024

This week, the domestic Chinese rare earth market showed a trend of rising first and then falling. 

At the beginning of the week, influenced by the steady listing price of Northern Rare Earth for this month, the announcement of the "Rare Earth Management Regulations," and significant cost support, many suppliers tentatively raised their prices, although transactions remained limited. Towards the weekend, due to insufficient downstream demand and still ample spot market supply, rare earth prices dropped again.

According to statistics from Chinatungsten Online, the current price of praseodymium-neodymium oxide has decreased by approximately 2,000 RMB/ton from last week, a drop of 0.55%. The price of terbium oxide has decreased by approximately 50 RMB/kg, a drop of 0.93%. The price of neodymium-iron-boron scrap (praseodymium-neodymium) has increased by approximately 1 RMB/kg, an increase of 0.25%. The prices of praseodymium-neodymium metal, dysprosium oxide, and 55N neodymium-iron-boron blanks have remained stable compared to last week. Thus, the price increases and decreases for rare earth raw materials and their functional materials were roughly equal this week.

According to the Longyan Media Center, the Changting rare earth industry has been included in the provincial strategic emerging industry cluster development project. The rare earth park has built a series of production lines with an annual separation capacity of 5,000 tons of rare earths, 12,000 tons of permanent magnet materials, 50,000 tons of petroleum cracking catalysts, and 300 laser scintillation crystals. The output value of the rare earth and its related application industries has rapidly increased from 617 million RMB in 2010 to 8.376 billion RMB in 2023, with an average annual growth rate of 26%. It is expected that the output value will exceed the 10 billion RMB mark in 2024.

Prices of rare earth products on July 5, 2024

Chinese rare earth price image

Picture of neodymium oxide

neodymium oxide image

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