Chinese Rare Earth Market - September 20, 2024
- Details
- Category: Tungsten's News
- Published on Friday, 20 September 2024 16:47
Chinese rare earth market is characterized by high prices but low transaction volumes.
Today, mainstream product prices saw slight increases, such as praseodymium-neodymium oxide rising by approximately 2,000 yuan/ton, terbium oxide by 30 yuan/kg, and dysprosium oxide by 10,000 yuan/ton. However, downstream demand remains sluggish, market activity is low, and actual transaction volumes are limited.
On the supply side:
1.Following the Mid-Autumn Festival, rare earth refining and separation companies have mostly resumed normal production.
2.The U.S. Federal Reserve’s interest rate cut has led to the appreciation of the Chinese yuan, which is beneficial for China's rare earth product imports, potentially increasing future import volumes.
On the demand side:
1.Although the growth of the new energy industry has significantly boosted demand for rare earth functional materials, tight liquidity and relatively high rare earth prices have made downstream consumers more cautious, with many adopting a wait-and-see approach.
2.Recent bidding results for praseodymium-neodymium metals in Northern Rare Earth were poor, with multiple auctions failing to close, which has dampened consumer purchasing interest and reduced market activity.
Prices of rare earth products on September 20, 2024
Picture of erbium oxide
Follow our WeChat to know the latest tungsten price, information and market analysis.
- Tungsten Manufacturer & Supplier, Chinatungsten Online: www.chinatungsten.com
- Tungsten News & Prices of China Tungsten Industry Association: www.ctia.com.cn
- Molybdenum News & Price: news.molybdenum.com.cn
- Tel.: 86 592 5129696; Email: sales@chinatungsten.com