Praseodymium-Neodymium Oxide Price - October 28, 2024

At the beginning of the week, the domestic rare earth market maintained a generally weak performance, with slight price declines for some products. 

For instance, the price of praseodymium-neodymium oxide decreased by about 1,000 yuan/ton, while the price of praseodymium-neodymium metal dropped by approximately 2,000 yuan/ton. This is mainly attributed to low inquiry activity and strong price pressure from downstream users. However, to avoid risks associated with cost overruns, suppliers have limited the extent of their price reductions. Amidst narrow fluctuations in rare earth raw material prices, the prices for neodymium-iron-boron (NdFeB) blanks have also been adjusted, with the price for 55N NdFeB blanks at around 206 yuan/kg.

In terms of news, Jinli Permanent Magnet reported that for the first three quarters of 2024, the company achieved operating revenue of 5.014 billion yuan, a year-on-year decrease of 0.72%. The net profit attributable to shareholders was 197 million yuan, down 60.17% year-on-year. The net profit excluding non-recurring items was 89.25 million yuan, a decline of 79.63% year-on-year. The net cash flow generated from operating activities was 207 million yuan, down 74.65% year-on-year. The basic earnings per share stood at 0.15 yuan, a decrease of 59.46% year-on-year. By the end of the reporting period, the company's total assets were 11.08 billion yuan, a year-on-year decline of 6.31%.

Prices of rare earth products on October 28, 2024

Picture of neodymium oxide

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