Chinese Rare Earth Price - September 18, 2024

Chinese rare earth price remained largely stable, with no significant shift in price trends as both bullish and bearish factors balanced each other out. Negotiations between buyers and sellers appeared to be at a standstill, resulting in a slow increase in orders.

On the positive side, two main factors have been supportive of prices: first, overseas restrictions on rare earth exports have slowed the growth of China's rare earth supply; second, the "Golden September, Silver October" peak consumption season and the upcoming National Day holiday have boosted downstream consumer demand.

However, on the negative side, many consumers are adopting a cautious approach due to the recent rise and fall in rare earth prices, preferring to order based on immediate needs rather than stockpiling.

On the news front, Baogang Group announced that the second phase of the North Rare Earth Huaxing Rare Earth expansion project, which aims to produce 8,000 tons of rare earth metals annually, has officially started construction. Compared to two years ago, the No. 1 workshop has been completely revamped, featuring new equipment such as automatic feeding systems, vacuum suction casting systems, vacuum packaging, and automatic packaging detection lines. Additionally, supporting facilities like power distribution stations, dust purification systems, and water pump stations are now operational, showcasing a modern industrial production line.

Prices of rare earth products on September 18, 2024

Picture of neodymium oxide

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