Rara Earth Product Prices - January 22, 2025

The Chinese rare earth market remained relatively calm, with low trading activity among merchants resulting in stable product prices and increasingly sluggish transactions.

On the supply side, many rare earth producers have reduced or halted production due to the upcoming Lunar New Year holiday, persistently cold weather, and stricter environmental policies. Additionally, reduced imports of overseas rare earth products have further slowed the increase in market spot supply. However, due to weaker-than-expected overall downstream demand last year, inventories of rare earth raw materials such as praseodymium, neodymium, dysprosium, and terbium remain relatively high. Customs data shows that China imported a total of 66,416 tons of rare earth metal ore in 2024, down 16% year-on-year. Of this, December imports amounted to 3,023 tons, a year-on-year decrease of 46% and a month-on-month decline of 41%.

On the demand side, the growing festive atmosphere has led magnetic material manufacturers and other rare earth functional material producers to gradually enter holiday mode, causing a decline in market demand. Additionally, compared to the past two weeks, current rare earth raw material prices are relatively high, dampening purchasing enthusiasm among buyers.

In terms of news, Chen Shihua, Deputy Secretary-General of the China Association of Automobile Manufacturers, reported that in 2024, China’s automobile production and sales reached 31.282 million and 31.436 million units, respectively, marking year-on-year growth of 3.7% and 4.5%, achieving the annual target. Under the combined effects of favorable policies, abundant supply, lower prices, and improved infrastructure, China’s new energy vehicle (NEV) market continued to grow strongly in 2024. NEV production and sales both exceeded 10 million units, reaching 12.888 million and 12.866 million units, respectively, representing year-on-year increases of 34.4% and 35.5%. NEV sales accounted for 40.9% of total automobile sales.

Prices of rare earth products on January 22, 2025

Picture of erbium oxide

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