Chinese Rare Earth Prices - July 17, 2024

Domestic Chinese rare earth prices continue to decline overall. 

The price of praseodymium-neodymium oxide has dropped by approximately 2,000 CNY/ton, terbium oxide by around 50 CNY/kg, and dysprosium-iron alloy by about 50,000 CNY/ton. The continuous drop in rare earth raw material prices has also led to a decrease in the prices of various specifications of NdFeB (neodymium-iron-boron) scrap. For instance, the price of dysprosium-containing NdFeB scrap has decreased by around 40 CNY/kg, and dysprosium-free NdFeB scrap by around 160 CNY/kg.

According to China Tungsten Online, the positive factors include:

1.Some product prices have dropped to the cost line, prompting some suppliers to become more profit-conscious.

2.Strong environmental enforcement and persistently high temperatures have led to a reduction in production by some rare earth manufacturers.

3.The high concentration of the rare earth industry in China gives it a certain ability to regulate market supply.

4.The negative factors are primarily influenced by macroeconomic fluctuations and policy adjustments, resulting in downstream demand falling short of expectations.

In related news, according to the Ministry of Industry and Information Technology, in June 2024, China's automobile production and sales reached 2.507 million and 2.552 million units, respectively, a year-on-year decrease of 2.1% and 2.7%. Among these, new energy vehicle production and sales reached 1.003 million and 1.049 million units, representing year-on-year growth of 28.1% and 30.1%. From January to June, China's automobile production and sales totaled 13.891 million and 14.047 million units, respectively, reflecting year-on-year growth of 4.9% and 6.1%. During the same period, the production and sales of new energy vehicles reached 4.929 million and 4.944 million units, representing year-on-year growth of 30.1% and 32%.

Prices of rare earth products on July 17, 2024

Picture of erbium oxide

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