Light Rare Earth Prices - September 25, 2024

The domestic rare earth market is currently characterized by a "price without market" situation. In the light rare earth sector, frequent tenders from magnetic material companies and solid support from production costs have led many suppliers to continuously raise their quotes. 

For instance, the prices of neodymium oxide and praseodymium-neodymium metals have increased by approximately 4,000 yuan/ton and 2,000 yuan/ton, respectively. However, despite the rise in light rare earth prices, the actual growth in market demand remains relatively limited, prompting traders to exercise caution in their operations.

In the medium and heavy rare earth market, the prices of dysprosium and terbium have stabilized, with consumers mainly following actual demand for their purchases. Suppliers generally have a low willingness to reduce prices, primarily due to the ongoing increase in praseodymium-neodymium prices and to avoid the risk of cost inversion.

According to the Baotou Municipal Bureau of Industry and Information Technology, Baotou has recently signed a cooperation agreement with Henan Military Engineering Materials Co., Ltd. for the rare earth-basalt fiber new materials industry project. The project adopts a "one park, multiple zones" structure, including production areas for rare earth-basalt fiber, new energy equipment, mining equipment, electrical equipment, green building materials, and logistics warehousing. The first phase of the project covers approximately 325 acres, with plans for a production line for 100,000 tons of basalt fiber and 200,000 tons of composite materials, totaling an investment of around 4 billion yuan. The project will also build key laboratories, pilot workshops, a results exhibition center, and an industry incubator. Once fully operational, it is expected to generate annual revenues of 5 billion yuan, with total profits and taxes of 1 billion yuan.

Prices of rare earth products on September 15, 2024

Picture of neodymium oxide

Follow our WeChat to know the latest tungsten price, information and market analysis.

• < Prev
• Next >