Rare Earth Prices - July 19, 2024

This week, the overall domestic Chinese rare earth market is weak. 

The main reasons include sluggish downstream demand, abundant spot supply, and the current complex global economic situation. However, as the rare earth industry moves towards more standardized operations, market maturity is increasing, and the profitability awareness of some suppliers is rising. Therefore, the probability of a significant drop in rare earth prices in the short term is low.

According to statistics from Chinatungsten Online, current prices for praseodymium-neodymium oxide have decreased by approximately 4,000 RMB/ton from last week, a drop of 1.10%. Prices for praseodymium-neodymium metal have decreased by about 6,000 RMB/ton, a drop of 1.33%. Terbium oxide prices have fallen by approximately 200 RMB/kg, a drop of 3.81%. Dysprosium oxide prices have dropped by about 100,000 RMB/ton, a decrease of 5.65%. The price of 55N NdFeB blanks remains unchanged from last week. The price of NdFeB scrap (praseodymium-neodymium) has risen by approximately 5 RMB/kg, an increase of 1.25%. This shows that the price drop for dysprosium-terbium products is greater than that for praseodymium-neodymium products this week.

In terms of news, in the first half of 2024, Xiamen Tungsten's rare earth business achieved a revenue of 2.031 billion RMB, a year-on-year decrease of 22.38%, and a total profit of 117 million RMB, a year-on-year decrease of 23.50%. However, there was a quarter-on-quarter increase of 91.27% in the second quarter. The decrease is mainly due to the integration with China Rare Earth Group, resulting in the exclusion of former subsidiaries Longyan Rare Earth and Jinlong Rare Earth Smelting and Separation business from the consolidated financial statements. This led to a significant year-on-year decline in attributable profit and revenue for these businesses. Additionally, the decline in raw material prices and increased competition have reduced the profitability of rare earth deep-processing products. Among them, the sales volume of major deep-processing product magnetic materials increased by 13% year-on-year in the first half, with profitability improving quarter by quarter.

Prices of rare earth products on July 19, 2024

Picture of erbium oxide

Follow our WeChat to know the latest tungsten price, information and market analysis.

• < Prev
• Next >