Rare Earth Product Prices - November 4, 2024

At the start of the week, Chinese rare earth market showed relative stability, with rare earth product prices fluctuating within a narrow range and traders primarily conducting transactions based on immediate needs. 

On the supply side, stricter environmental regulations and anti-illegal mining policies, along with high production costs, have limited the output from rare earth manufacturers. Additionally, with disruptions in rare earth imports from Myanmar, low-priced supply in the market has decreased.

On the demand side, short- to medium-term demand expectations remain positive. Growth areas like variable-frequency air conditioners, new energy vehicles, energy-efficient motors, and humanoid robots are anticipated to drive demand for functional rare earth materials.

In terms of pricing, Northern Rare Earth’s listed prices in October 2024 showed month-over-month increases but were down year-over-year. The detailed price changes include:

Lanthanum Oxide: 4,100 RMB/ton, unchanged MoM, down 58.16% YoY.

Cerium Oxide: 7,600 RMB/ton, unchanged MoM, down 22.45% YoY.

Praseodymium-Neodymium Oxide: 416,600 RMB/ton, up 0.22% MoM, down 15.57% YoY.

Neodymium Oxide: 424,900 RMB/ton, up 0.19% MoM, down 15.31% YoY.

Praseodymium-Neodymium Metal: 516,000 RMB/ton, up 0.19% MoM, down 15.13% YoY.

Neodymium Metal: 526,000 RMB/ton, up 0.19% MoM, down 14.89% YoY.

Overall, the market continues to navigate a mix of steady short-term demand and constrained supply conditions, setting the stage for cautious optimism.

Prices of rare earth products on November 4, 2024

Picture of neodymium oxide

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