Dysprosium Oxide Price - July 22, 2024

At the beginning of the week, Chinese rare earth market continued to run weakly. This was due to unrelieved weak downstream demand and ample market spot supply, prompting some suppliers to slightly lower their prices. For instance, the prices of terbium oxide and dysprosium oxide fell by about 150 RMB/kg and 30,000 RMB/ton, respectively. 

Notably, supported by production costs, the prices from light rare earth suppliers and rare earth permanent magnet material suppliers remained relatively stable, with most adopting a wait-and-see attitude. As a result, the bulk market remained sluggish.

In terms of news, China Southern Rare Earth Group expects to report a net loss attributable to shareholders of 271 million RMB to 311 million RMB for the first half of 2024, a decrease of 373 million RMB to 413 million RMB compared to the same period last year. The net loss after deducting non-recurring gains and losses is expected to be 273.85 million RMB to 313.85 million RMB, a decrease of 331 million RMB to 371 million RMB compared to the same period last year. In the first half of 2024, the average selling prices of major rare earth products, such as praseodymium-neodymium, dysprosium, and terbium, declined significantly year-on-year, leading to a decrease in gross profit from sales and an increase in inventory impairment losses, which contributed to the company's year-on-year decline in profits.

Prices of rare earth products on July 22, 2024

Picture of neodymium oxide

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