Domestic Rare Earth Prices - December 25, 2024

Domestic rare earth prices are generally stable with slight increases in specific areas. For instance, the price of praseodymium-neodymium oxide has risen by approximately 3,000 yuan/ton, and gadolinium oxide by about 4,000 yuan/ton.

Supply Side

Although many rare earth manufacturers have reduced production due to factors such as low rare earth prices, high production costs, and technical challenges, the current market still has a relatively sufficient supply of spot goods. This is due to prolonged weak downstream demand and previous instances of unregulated mining in some regions.

Demand Side

As the year-end approaches, combined with a market sentiment of "buying on rising prices, avoiding falling prices," downstream inquiries remain limited.

The global economic slowdown has constrained development across various industries, such as new energy vehicles and electronics, which heavily rely on rare earths. This, in turn, has reduced the demand for rare earth materials.

Industry News

According to data from the National Energy Administration, by the end of 2024, China’s wind power installed capacity reached approximately 510 million kilowatts, and photovoltaic installed capacity reached about 840 million kilowatts, with utilization rates maintained above 95%. Since 2013, wind power installed capacity has grown sixfold, with an average annual growth rate of around 20%. Photovoltaic installed capacity has increased by more than 180 times, with an average annual growth rate of approximately 60%. Annual new installations account for over 40% of the global total, continuously driving global green development.

Prices of rare earth products on December 25, 2024

Picture of erbium oxide

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