Chinese Rare Earth Market - October 30, 2024

Chinese rare earth market is generally characterized by a situation where prices are available but transactions are scarce. 

Influenced by difficulties in exporting rare earth minerals from Myanmar, strong support from production costs, and downstream users primarily maintaining essential purchases, some suppliers have tentatively raised their quotes. For instance, the price of neodymium oxide has increased by about 2,000 yuan/ton, praseodymium-neodymium oxide by about 3,000 yuan/ton, and terbium oxide by about 70 yuan/kg.

However, due to insufficient confidence in future market conditions and limited liquidity, overall market demand remains below expectations. In the short term, industry players are particularly focused on the listing prices for northern rare earths in November.

In terms of news, Northern Rare Earth achieved revenue of 8.57 billion yuan in the third quarter of 2024, an increase of 1.54% year-on-year; the net profit attributable to the parent company was 360 million yuan, up 10.94% year-on-year; the basic earnings per share were 0.0995 yuan, an increase of 10.94% year-on-year; by the end of the reporting period, total assets were 41.91 billion yuan, up 3.50% year-on-year; and equity attributable to the parent company was 21.86 billion yuan, up 1.12% year-on-year.

Prices of rare earth products on October 30, 2024

Picture of neodymium oxide

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