Chinese Rare Earth Market - November 15, 2024

Chinese rare earth market is generally experiencing a downward trend in the week ended on Friday, November 15, 2024, with prices for various rare earth products showing broad declines. Specifically:

The price of Praseodymium Neodymium Oxide has dropped by approximately 3,000 yuan/ton.

Praseodymium Neodymium Metal prices have fallen by around 2,000 yuan/ton.

Terbium Oxide prices have decreased by approximately 30 yuan/kg.

Dysprosium Alloy prices have reduced by around 20,000 yuan/ton.

In this context, neodymium-iron-boron (NdFeB) sintered magnets remain relatively stable, which is helping to maintain price stability and confidence among upstream suppliers. However, due to the continued decline in dysprosium and terbium prices, the prices for NdFeB dysprosium scrap and NdFeB dysprosium-terbium scrap have also fallen, reaching around 1,690 yuan/kg and 5,223 yuan/kg, respectively.

Market Drivers:

According to insights from China Tungsten Online, the main factors contributing to the recent weakness in the rare earth market include:

Weak downstream demand, which remains sluggish and has not shown significant improvement.

Adequate supply of some rare earth products in the market.

The resumption of production at rare earth mining areas in Myanmar, which may further increase supply.

However, due to production cost support, suppliers have limited room for price reductions.

Company Update:

Dadi Xiong (a rare earth company) reported a revenue of 972 million yuan for the first three quarters of 2024, marking a year-on-year decline of 6.18%. The company’s net profit attributable to shareholders was 28.44 million yuan, with cash flow from operating activities falling by 81.68% to 31.75 million yuan. The basic earnings per share stood at 0.25 yuan. As of the end of the reporting period, the company’s total assets were valued at 2.48 billion yuan, a 7.51% increase year-on-year.

In the third quarter, the company achieved a revenue of 332 million yuan, a year-on-year decrease of 9.10%. However, net profit attributable to shareholders surged by 196.04% to 10.82 million yuan, while non-recurring net profit increased by 88.11% to 2.04 million yuan.

Prices of rare earth products on November 15, 2024

Picture of praseodymium oxide

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