Praseodymium Oxide Price - October 14, 2024

At the start of the week, the domestic rare earth market remained stable. With limited downstream demand and suppliers being reluctant to significantly reduce prices, the trading atmosphere in the market has been relatively subdued, and order growth has been slow. 

Currently, the prices of praseodymium oxide, terbium oxide, and dysprosium-iron alloy are stable at around 439,000 yuan/tonne, 6,060 yuan/kg, and 1,780,000 yuan/tonne, respectively.

According to China Tungsten Online, the main reasons for the reduced market demand include: first, current rare earth raw material prices are relatively high; second, some downstream companies still have a significant surplus of raw materials; and third, on October 11, the trading volume of praseodymium-neodymium metals from Northern Rare Earths was relatively low.

In terms of news, data from the National Bureau of Statistics shows that in September 2024, China's industrial producer prices fell by 2.8% year-on-year, and the purchasing prices of industrial producers dropped by 2.2% year-on-year. Year-on-year changes in September industrial producer prices include: prices in the mining industry fell by 2.5%, raw material industry prices decreased by 3.2%, and processing industry prices dropped by 3.3%. In purchasing prices, black metal materials fell by 6.8%, building materials and non-metal products dropped by 4.2%, fuel and power prices decreased by 4.1%, chemical raw materials dropped by 3.3%, while non-ferrous metal materials and wire prices increased by 7.4%.

Prices of rare earth products on October 14, 2024

Picture of neodymium oxide

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