Chinese Rare Earth Prices - July 26, 2024

This week, Chinese rare earth prices have shown mixed trends. Amid intense price negotiations between buyers and sellers, market trading sentiment remains subdued with low transaction volumes. Currently, industry players are primarily focused on the allocation of rare earth quotas for the second half of the year.

In the light rare earth market, prices for some products have remained stable or seen slight increases. Specifically, the prices of praseodymium-neodymium oxide and praseodymium-neodymium metal have increased by approximately 3,000 yuan/ton and 5,000 yuan/ton, respectively. This is mainly due to limited market inventory and high production costs. In the medium and heavy rare earth market, there has been a pattern of initial decline followed by a rebound. Early in the week, prices for dysprosium and terbium products continued their previous week's downward trend. However, by the weekend, several factors had significantly boosted market confidence: medium and heavy rare earth product prices approached cost lines, prompting increased profitability awareness among suppliers; rising bullish sentiment in the light rare earth market; and limited imports of overseas rare earth products.

In other news, Shenghe Resources expects a net loss attributable to shareholders of between 48 million yuan and 72 million yuan for the first half of 2024, compared to a profit of 83.9765 million yuan in the same period last year. The net loss, excluding non-recurring items, is estimated to be between 53 million yuan and 77 million yuan, compared to a profit of 28.075 million yuan in the same period last year. The main reasons for the reduced performance are the significant year-on-year decline in the market prices of major rare earth products, the relatively weak market prices of zirconium and titanium products, and delayed changes in the costs of imported rare earth concentrates and beach sand, all of which have led to a substantial decrease in the average sales prices and gross margins of the company's main products compared to the same period last year.

Prices of rare earth products on July 26, 2024

Picture of neodymium oxide

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