Chinese Rare Earth Prices - September 13, 2024

This week, Chinese rare earth prices experienced significant fluctuations. 

Early in the week, prices surged due to limited production capacity from mining companies, strong production costs, an increase in the listed price of Northern Rare Earth for the month, and positive prospects for downstream rare earth industries. This led to strong speculative sentiment among suppliers, causing mainstream product prices to rise rapidly. However, as the week progressed, market reactions showed that downstream users were hesitant to purchase at high prices, and overall market demand remained weak. 

Additionally, the announcement of Northern Rare Earth's praseodymium-neodymium metal auction further heightened market uncertainty, resulting in a sharp price correction for rare earth products. Industry experts anticipate that the rare earth market may stabilize and trade sideways in the short term.

According to data from China Tungsten Online, the price of praseodymium-neodymium oxide has dropped by approximately 14,000 RMB/tonne from last week, a decrease of 3.26%. Praseodymium-neodymium metal prices have fallen by about 11,000 RMB/tonne, a 2.07% drop. Terbium oxide prices have increased by 10 RMB/kg, a rise of 0.17%. Dysprosium oxide prices have decreased by about 40,000 RMB/tonne, a drop of 2.22%. The price of 55N neodymium-iron-boron blanks has remained flat compared to last week, while neodymium-iron-boron scrap praseodymium-neodymium prices have dropped by 18 RMB/kg, a decline of 3.85%. This shows that praseodymium-neodymium prices have experienced greater declines than gains this week.

In other news, the Guangdong Provincial Department of Natural Resources announced that, in accordance with the "Notice of the Ministry of Natural Resources on Issuing Mining Rights Transfer Transaction Rules" (Ziranzi Regulation [2023] No. 1) and the "Opinions of the Ministry of Natural Resources on Deepening Reforms in Mineral Resource Management" (Ziranzi Regulation [2023] No. 6), an exploration mining right for the Huilong Rare Earth Mine in Deqing County, Guangdong Province, is planned to be granted by agreement to China Rare Earth Group Co., Ltd.

Prices of rare earth products on September 13, 2024

Picture of praseodymium oxide

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