Chinese Rare Earth Price - August 9, 2024

Chinese rare earth price showed a trend of rising initially and then declining in the week ended on Friday, August 9, 2024. 

At the beginning of the week, supported by production costs, the prices of mainstream products continued the upward trend from the previous week. For example, the price of terbium oxide increased from around 5,120 yuan per kilogram to approximately 5,350 yuan per kilogram. However, towards the weekend, as many product prices reached resistance levels and downstream demand was slow to follow, suppliers found it difficult to raise prices further and even made rational adjustments downward.

According to statistics from China Tungsten Online, the current price of praseodymium-neodymium oxide decreased by about 1,000 yuan per ton from last week, a drop of 0.27%; the price of praseodymium-neodymium metal decreased by approximately 3,000 yuan per ton, a drop of 0.65%; the price of terbium oxide increased by about 80 yuan per kilogram, a rise of 3.81%; and the price of dysprosium oxide increased by around 10,000 yuan per ton. Meanwhile, the prices of 55N iron-boron blanks and neodymium-iron-boron scrap (praseodymium-neodymium) remained stable compared to last week. This indicates that the increase in praseodymium-neodymium prices this week was smaller than the decrease, while the increase in dysprosium-terbium prices was larger than the decrease.

In other news, Shenghe Resources' wholly-owned subsidiary Chenguang Rare Earth signed a "Share Purchase Agreement" with Strandline Resources Limited (STA) to acquire 100% equity in STA's wholly-owned subsidiary Strandline Resources UK Limited (SRUL). The agreement stipulates that Chenguang Rare Earth will pay a total transaction amount of 43 million Australian dollars. The conditions for the completion of the transaction have been met, and Chenguang Rare Earth has made the payment as agreed. The parties involved have signed the handover documents, and the company will proceed with the subsequent steps, including the transfer of shares.

Prices of rare earth products on August 9, 2024

Picture of neodymium oxide

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