Rare Earth Raw Material Prices - August 23, 2024

The overall rare earth market in China has performed relatively well this week, with many product prices experiencing fluctuations and upward trends.

 Notably, praseodymium-neodymium oxide prices have risen from approximately 382,000 CNY/ton to around 392,000 CNY/ton, and terbium oxide prices have increased from about 5,350 CNY/kg to around 5,520 CNY/kg. As rare earth raw material prices continue to rise, industry players are particularly focused on how downstream demand will respond.

According to statistics from Chinatungsten Online, the current price of praseodymium-neodymium oxide has increased by approximately 10,000 CNY/ton from last week, reflecting a 2.62% rise. Praseodymium-neodymium metal prices have risen by around 8,000 CNY/ton, a 1.68% increase. Terbium oxide prices have seen a rise of approximately 170 CNY/kg, a 3.18% increase. Dysprosium oxide prices have increased by around 10,000 CNY/ton, a 0.57% rise. Prices for 55N neodymium-iron-boron rough blocks remain stable compared to last week, while neodymium-iron-boron scrap praseodymium-neodymium prices have risen by about 14 CNY/kg, reflecting a 3.29% increase.

In related news, Shenghe Resources recently announced that its wholly-owned subsidiary, Ganzhou Chenguang Rare Earth, plans to acquire an 86% stake in Jiangyin Jiahe from NEO International. Chenguang Rare Earth also intends to acquire a 95% stake in Zibo Jiahe from NEO International and a 5% stake from Shijia Trading. Upon completion of these acquisitions, Chenguang Rare Earth will hold 100% of the shares in Zibo Jiahe.

Prices of rare earth products on August 23, 2024

Picture of erbium oxide

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