Terbium Oxide Price - September 29, 2024

The domestic rare earth market remains resilient, though downstream demand has fallen short of expectations, limiting any significant price increases. However, ongoing favorable policy measures and strong production cost support have kept suppliers from reducing prices. 

Today, prices for praseodymium-neodymium oxide, terbium oxide, and dysprosium-iron alloy are approximately 429,000 yuan per ton, 5,880 yuan per kilogram, and 1,750,000 yuan per ton, respectively. Market participants are closely watching the demand situation following the National Day holiday.

In terms of recent news, on September 24, China's State Council Information Office held a press conference outlining measures to support high-quality economic development through financial policies. Key policies include:

Lowering the reserve requirement ratio (RRR) by 0.5%, releasing approximately 1 trillion yuan in long-term liquidity.

Reducing the 7-day reverse repo rate from 1.7% to 1.5%.

Lowering existing mortgage interest rates and standardizing down payment ratios, guiding commercial banks to reduce rates on outstanding mortgages to align with new loan rates, with an expected average reduction of about 0.5%.

Supporting eligible securities, fund, and insurance companies in obtaining liquidity from the central bank through asset pledges.

Creating a special re-lending program for stock repurchases and increased holdings, encouraging banks to provide loans to support listed companies and shareholders in buying back or increasing their stock holdings.

These measures are expected to enhance liquidity and potentially stimulate demand, but the market remains cautious about the effects of these policies on post-holiday rare earth demand.

Prices of rare earth products on September 29, 2024

Picture of cerium oxide

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