Chinese Rare Earth Prices - September 9, 2024

At the beginning of the week, Chinese rare earth prices continued to rise, with praseodymium-neodymium oxide, praseodymium-neodymium metal, and dysprosium oxide prices increasing by approximately 8,000 yuan/ton, 7,000 yuan/ton, and 30,000 yuan/ton, respectively. 

This price increase reflects strong production cost support, limited raw material supply, and favorable development in downstream rare earth industries. These factors have fueled speculative buying sentiment among traders, tightening the availability of low-priced supplies. However, due to insufficient purchasing power from downstream and end customers, transaction volumes remain low, and market participants are taking a wait-and-see approach.

In terms of news, the Baotou City Bureau of Industry and Information Technology reported that in August, of the eight rare earth products it monitored, four saw price increases, two remained stable, and two declined. The largest month-on-month increase was for praseodymium-neodymium metal, with an average price of 478,000 yuan/ton, up 31,000 yuan/ton (6.9%) from the previous month, but down 119,000 yuan/ton (19.9%) year-on-year. Year-on-year, six products saw price declines, while two products increased, with the largest year-on-year decrease seen in neodymium oxide.

Prices of rare earth products on September 9, 2024

Picture of neodymium oxide

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