Chinese Rare Earth Prices – October 25, 2024

Details: Category: Tungsten's News; Published on Monday, 28 October 2024 10:50

Chinese rare earth prices have fluctuated within a narrow range in the week ended on Friday October 25, 2024.

At the beginning of the week, influenced by an increase in downstream users' purchasing inquiries and limited imports from Myanmar, some suppliers tentatively raised their quotes. However, as the weekend approached, due to a slow overall demand follow-up, prices for some products rationally retreated. Currently, industry participants are particularly focused on market demand and the import situation of overseas rare earth products.

According to statistics from Zhongtung Online, the prices of praseodymium-neodymium oxide and terbium oxide have remained stable compared to last week. The price of praseodymium-neodymium metal has decreased by approximately 5,000 yuan/ton, a decline of 0.95%; the price of dysprosium oxide has decreased by approximately 10,000 yuan/ton, a decline of 0.57%; the price of 55N praseodymium-neodymium iron-boron alloy blocks has decreased by approximately 3 yuan/kg, a decline of 1.42%; and the price of praseodymium-neodymium in neodymium-iron-boron waste has decreased by approximately 3 yuan/kg, a decline of 0.65%.

In terms of news, data from the Jiangxi Provincial Bureau of Statistics shows that in the first three quarters of 2024, the industrial added value of large-scale enterprises in Jiangxi Province increased by 8.5% year-on-year. Breaking it down by three major categories: the mining industry saw a decrease of 1.2%, while the manufacturing industry grew by 8.9%, and the electricity, heat, gas, and water production and supply industry grew by 6.8%. In terms of products, the production volumes of new energy vehicles, smartphones, and complete electronic computers increased by 124.0%, 45.7%, and 38.8%, respectively. The high-tech manufacturing and equipment manufacturing sectors saw added value growth of 16.7% and 15.9%, accounting for 21.4% and 33.1% of the industrial added value of large-scale enterprises, respectively.

Prices of rare earth products on October 25, 2024

Chinese rare earth prices image