July 2024 Update: China's Rare Earth Market Performance and Price Trends

Details: Category: Tungsten's News; Published on Wednesday, 31 July 2024 16:03

According to information from Chinatungsten Online, the overall performance of China's rare earth market in July 2024 was unsatisfactory. Under the intertwining of various bullish and bearish factors, the attitudes of light and heavy rare earth traders varied, and market transactions did not meet expectations.

In the light rare earth market, the prices were largely stable due to several factors, including the flat month-on-month listing prices for northern rare earths in July, decent trading prices for rare earth concentrates in the third quarter, and the announcement of the "Rare Earth Management Regulations" at the end of June. As a result, suppliers adjusted their quotes within a narrow range, with month-end prices slightly higher than those at the beginning of the month.

In the heavy rare earth market, the prices of mainstream products fluctuated downward, influenced by ample spot supply and weak downstream demand. Specifically, the price of terbium oxide decreased from about 5,400 yuan/kg at the beginning of the month to around 5,080 yuan/kg, a decline of 5.93%. The price of dysprosium oxide fell from about 1,820,000 yuan/ton to around 1,700,000 yuan/ton, down 6.59%, and the price of dysprosium iron alloy dropped from about 1,780,000 yuan/ton to around 1,640,000 yuan/ton, a decline of 7.87%. It is worth mentioning that supported by production costs, month-end prices from stockholders showed a tentative increase.

In July 2024, the average prices of China's rare earth products fell both month-on-month and year-on-year. Specifically, the average price of praseodymium oxide was 370,522 yuan/ton, a month-on-month decrease of about 0.93% and a year-on-year decline of about 21.84%. The average price of neodymium oxide was 370,522 yuan/ton, down 0.69% month-on-month and 21.80% year-on-year. The average price of praseodymium-neodymium oxide was 362,652 yuan/ton, down 0.43% month-on-month and 20.33% year-on-year. The average price of praseodymium-neodymium metal was 447,870 yuan/ton, a month-on-month decline of about 0.68% and a year-on-year decrease of about 19.65%. The average price of terbium oxide was 5,172 yuan/kg, down 9.29% month-on-month and 31.20% year-on-year. The average price of dysprosium oxide was 1,735,217 yuan/ton, down 7.68% month-on-month and 21.26% year-on-year. The average price of dysprosium iron alloy was 1,698,696 yuan/ton, a month-on-month decrease of about 7.15% and a year-on-year decline of about 19.55%.

From January to July 2024, the average prices of China's rare earth products fell year-on-year. Specifically, the average price of praseodymium oxide was 390,475 yuan/ton, a year-on-year decline of about 30.39%. The average price of neodymium oxide was 388,638 yuan/ton, down about 33.85% year-on-year. The average price of praseodymium-neodymium oxide was 380,000 yuan/ton, a decline of about 31.36% year-on-year. The average price of praseodymium-neodymium metal was 470,911 yuan/ton, down about 30.06% year-on-year. The average price of terbium oxide was 5,830 yuan/kg, a year-on-year decrease of about 41.57%. The average price of dysprosium oxide was 1,923,759 yuan/ton, down about 10.39% year-on-year. The average price of dysprosium iron alloy was 1,885,319 yuan/ton, a year-on-year decrease of about 10.20%.

Price Trend of Rare Earth Products in China from January to July 2024