Prices for Light Rare Earth Products - September 2, 2024

At the beginning of the week, the domestic rare earth market showed mixed trends. Prices for light rare earth products generally increased, while prices for mainstream medium and heavy rare earth products continued to decline. 

In the praseodymium-neodymium market, limited production capacity from manufacturers and a slight increase in demand from magnetic material companies led to higher supplier quotations. In the dysprosium and terbium market, the situation was weaker due to downstream demand not meeting expectations, resulting in a decrease in the previously observed price increases.

News Update: In the first half of 2024, several key projects are progressing as planned, including JL MAG Rare-Earth Baotou's Phase II project with a capacity of 12,000 tons/year, a high-end magnetic material project in Ningbo with a capacity of 3,000 tons/year and one billion component units, and the Ganzhou high-efficiency energy-saving motor magnetic material base project. The company plans to achieve a production capacity of 40,000 tons of high-performance rare earth permanent magnet materials and advanced magnetic component production lines by 2025.

Prices of rare earth products on September 2, 2024

Picture of neodymium oxide

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