Chinese Rare Earth Market - October 8, 2024

The domestic Chinese rare earth market continues to operate steadily with a slightly upward trend. Currently, the prices of neodymium oxide, terbium oxide, and dysprosium oxide have increased to approximately 435,000 RMB/ton, 6,000 RMB/kg, and 1,790,000 RMB/ton, respectively.

On the positive side, two key factors are driving this: First, inquiries from magnetic material companies remain stable, and strong production costs provide solid support, helping suppliers maintain firm pricing. Second, the improving auction results for praseodymium-neodymium metals from Northern Rare Earth before the holiday have significantly boosted market confidence. However, on the downside, limited growth in downstream demand has kept price increases relatively modest. Industry participants are now focusing on the upcoming praseodymium-neodymium metal auction from Northern Rare Earth.

In terms of policy updates, the Regulations on Rare Earth Management came into effect on October 1, 2024. The Regulations clarify that rare earth resources are state-owned, and no organization or individual is allowed to illegally acquire or damage these resources. It prohibits the purchase, processing, sale, or export of rare earth products mined or refined illegally. Additionally, the state encourages and supports research and application of new technologies, processes, products, materials, and equipment in the rare earth industry, promoting the high-end, intelligent, and green development of the sector. The implementation of these Regulations is expected to have a notable impact on the entire rare earth industry chain.

Prices of rare earth products on October 8, 2024

Picture of neodymium oxide

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