Holmium Oxide Prices - October 10, 2024

The domestic rare earth market continues to operate in a consolidating phase, with a relatively balanced supply-demand relationship, leading to somewhat stagnant negotiation atmospheres between buyers and sellers. As a result, prices fluctuate within a reasonable range, and actual transaction volumes remain limited. 

Currently, the prices of praseodymium-neodymium oxide, gadolinium oxide, and holmium oxide are stabilizing at approximately 436,000 RMB/ton, 182,000 RMB/ton, and 525,000 RMB/ton, respectively.

On the positive side:

Northern Rare Earth's fourth-quarter rare earth concentrate transaction price and its posted price for this month have both increased compared to previous periods, significantly boosting suppliers' confidence in maintaining firm pricing.

The downstream industries of rare earths, such as electric vehicles, wind power generation, and robotics, show promising growth prospects, which could drive an increase in demand for rare earth functional materials.

On the negative side:

With the continuous rise in rare earth raw material prices, downstream users have become more cautious, exhibiting greater price sensitivity and resistance.

The results of the praseodymium-neodymium metal auction by Northern Rare Earth on October 9 were mediocre, with some auction lots going unsold, which could weaken market confidence to some extent.

In terms of recent news, according to the rare earth concentrate pricing method and the third-quarter rare earth oxide prices for 2024, Northern Rare Earth has adjusted the rare earth concentrate transaction price for the fourth quarter of 2024 to 17,782 RMB/ton (excluding tax), reflecting a 6.22% increase month-on-month but a 13.41% year-on-year decrease. For every 1% change in REO content, the price adjusts by 355.64 RMB/ton, which is consistent with the overall percentage changes.

Prices of rare earth products on October 10, 2024

Picture of neodymium oxide

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