Chinese Rare Earth Prices - November 1, 2024

This week, Chinese rare earth prices have fluctuated within a narrow range. Due to prolonged weak demand from downstream sectors and relatively abundant spot supply in the market, it has been challenging for rare earth product prices to increase. 

However, to avoid the risk of cost and profit inversions, and influenced by the positive development of downstream rare earth industries and import restrictions on Myanmar's rare earth ores, suppliers have limited room for price concessions.

According to statistics from China Tungsten Online, current prices for praseodymium-neodymium metal, dysprosium oxide, and praseodymium-neodymium recycled materials remain unchanged compared to last week. The price of praseodymium-neodymium oxide has decreased by about 1,000 yuan per ton, a drop of 0.24%. Dysprosium oxide has increased by approximately 100 yuan per ton, up 1.69%. The price of 55N praseodymium-neodymium sintered blocks has decreased by about 3 yuan per kilogram, down 1.44%.

In terms of news, in the third quarter of 2024, the production of rare earth oxides in northern China reached 4,245.73 tons, an increase of 6.19% year-on-year. The production of rare earth salts was 33,763.51 tons, a decrease of 1.69% year-on-year. The output of rare earth metals was 9,841.05 tons, up 32.87% year-on-year. The production of magnetic materials reached 17,068.76 tons, an increase of 26.42% year-on-year. Conversely, the output of polishing materials was 6,930.93 tons, down 6.66% year-on-year, while hydrogen storage material production increased to 597.33 tons, up 14.96% year-on-year.

Prices of rare earth products on November 1, 2024

Picture of erbium oxide

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