Chinese Rare Earth Market - August 2, 2024

The Chinese rare earth market has generally shown an upward trend, with prices of praseodymium-neodymium oxide and dysprosium oxide breaking through the thresholds of 370,000 CNY/ton and 1,700,000 CNY/ton, respectively.

 Prices of gadolinium oxide and terbium oxide have also increased by approximately 4,000 CNY/ton and 20 CNY/kg, respectively. In this context, market transaction volumes have increased.

According to Chinatungsten Online, the main reasons for the rise in rare earth prices are as follows:

1.Northern Rare Earth’s listed prices for this month remained flat compared to the previous month, which was in line with expectations.

2.The long-term decline in the prices of rare earth products, with significant decreases, led to some products’ prices nearing the cost line, compelling many suppliers to enhance their profitability awareness.

3.The downstream industries of rare earths, such as the robotics and wind power industries, are developing well, boosting market confidence in rare earth raw materials to some extent.

In terms of news, the listed prices of Northern Rare Earth for August 2024 remained flat month-on-month:

Lanthanum oxide: 4,100 CNY/ton, down 58.16% year-on-year.

Cerium oxide: 7,600 CNY/ton, down 22.45% year-on-year.

Praseodymium-neodymium oxide: 384,800 CNY/ton, down 18.13% year-on-year.

Neodymium oxide: 393,200 CNY/ton, down 17.79% year-on-year.

Praseodymium-neodymium metal: 478,000 CNY/ton, down 17.59% year-on-year.

Neodymium metal: 488,000 CNY/ton, down 17.29% year-on-year.

Prices of rare earth products on August 2, 2024

Picture of neodymium oxide

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