Chinese Rare Earth Market - September 14, 2024

The domestic Chinese rare earth market continues to operate under weak conditions, characterized by price declines for most products, a strong sense of caution among traders, and limited spot transactions. 

Today, prices for praseodymium-neodymium oxide, gadolinium oxide, and holmium oxide have dropped by approximately 1,000 yuan/ton, 2,000 yuan/ton, and 10,000 yuan/ton, respectively.

According to Chinatungsten Online, several factors have contributed to the slight price adjustments: the upcoming Mid-Autumn Festival, currently high rare earth prices, limited purchasing power of downstream users, and the less-than-ideal results from the recent praseodymium-neodymium metal auction held by Northern Rare Earth. Compared to the end of July, praseodymium oxide prices have risen by about 13.51%, praseodymium-neodymium oxide by 14.68%, praseodymium-neodymium metal by 15.99%, terbium oxide by 17.35%, dysprosium oxide by 7.32%, and dysprosium-iron alloy by 7.32%.

In related news, according to the Guangdong Provincial Department of Natural Resources, in line with the "Notice on the Issuance of Mining Rights Transfer Rules" (Natural Resources Regulations [2023] No. 1) and the "Opinions on Deepening the Reform of Mineral Resource Management" (Natural Resources Regulations [2023] No. 6), the province plans to transfer the exploration rights of the Liujia Rare Earth Mine in Rengyu Town, Pingyuan County, to China Rare Earth Group Co., Ltd. via an agreement.

Prices of rare earth products on September 14, 2024

Picture of neodymium oxide

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