Chinese Rare Earth Prices - November 6, 2024

Chinese rare earth prices are fluctuating within a narrow range. Influenced by factors such as the difficult importation of rare earth ores from Myanmar, an increase in the northern rare earth spot price month-on-month, high production costs, and the U.S. presidential election, suppliers are generally maintaining firm quotations. 

In order to avoid risks of reverse profit generation and due to tight liquidity, consumers are mainly taking a cautious wait-and-see approach, purchasing based on demand. In this context, the market atmosphere for buying and selling is relatively weak, and the transaction volume is low. Today, the prices of praseodymium and neodymium oxide, as well as neodymium iron boron scrap (praseodymium-neodymium), have each decreased by approximately 2,000 yuan/ton and 10 yuan/kg, respectively.

In terms of news: Jinli Permanent Magnet achieved a revenue of 1.653 billion yuan in the third quarter of 2024, a year-on-year increase of 1.99%; net profit attributable to shareholders of the parent company was 77.21 million yuan, a year-on-year decrease of 52.24%; non-recurring net profit was 55.24 million yuan, a year-on-year decrease of 63.25%; basic earnings per share was 0.06 yuan, a year-on-year decrease of 50.00%; at the end of the reporting period, total assets were 11.08 billion yuan, a year-on-year decrease of 6.31%; shareholders' equity attributable to the parent company was 6.741 billion yuan, a year-on-year decrease of 4.00%.

Prices of rare earth products on November 6, 2024

Picture of erbium oxide

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