Holmium Oxide Price - July 10, 2024

The domestic rare earth market continues to be lackluster, with different sentiments among light and heavy rare earth traders influenced by various uncertainties. Praseodymium and neodymium prices have shown signs of stabilizing, while mainstream medium and heavy rare earth prices continue to decline. 

Currently, praseodymium-neodymium oxide and praseodymium-neodymium metal prices are stable at around 362,000 yuan/ton and 449,000 yuan/ton, respectively. Meanwhile, the prices of terbium oxide, holmium oxide, and dysprosium oxide have fallen below 5,300 yuan/kg, 500,000 yuan/ton, and 1,800,000 yuan/ton, respectively.

According to Chinatungsten Online, several factors are currently influencing rare earth prices:

The relatively ample supply of some rare earth raw materials, tight financial conditions, and the low probability of a significant short-term price increase have led to low purchasing enthusiasm among downstream users. However, in the long term, the development prospects of downstream rare earth industries are favorable, which is expected to boost the demand for rare earth functional materials. According to a research report by Huatai Securities, the compound annual growth rate of praseodymium-neodymium oxide demand is expected to reach 10.8% from 2023 to 2026.

Although some rare earth manufacturers have reduced production and China's imports of rare earth raw materials are limited, these measures have not resolved the oversupply in the market due to prolonged weak downstream demand. Huatai Securities' report indicates that the domestic rare earth industry has significant advantages on the supply side, with slow capacity expansion on the overseas supply side. From 2024 to 2026, domestic supply is expected to contribute the most to the future global rare earth supply increase.

In related news, Northern Rare Earth recently announced an adjustment in the pricing of rare earth concentrates for the third quarter of 2024. Based on the pricing method for rare earth concentrates and the prices of rare earth oxides in the second quarter of 2024, the transaction price for rare earth concentrates in the third quarter of 2024 has been adjusted to 16,741 yuan/ton (dry weight, REO=50%), excluding tax. This represents a decrease of 51 yuan/ton or 0.30% compared to the second quarter's transaction price of 16,792 yuan/ton. For each 1% increase or decrease in REO, the price excluding tax will increase or decrease by 334.82 yuan/ton, which is 1.02 yuan/ton or 0.30% lower than the 335.84 yuan/ton change per 1% REO in the second quarter of this year.

Prices of rare earth products on July 10, 2024

Picture of praseodymium oxide

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