Rare earth market quotation in China: lanthanum oxide, cerium oxide and praseodymium neodymium metal prices keep stable and strong on December 27, 2021. As the end of the year is approaching, due to the tight liquidity, although downstream users hesitate to purchase orders and make the transaction less than expected, it is still difficult to offset the confidence brought by the positive factors to the suppliers.

Rare earth elements are used in all types of modern technology, including batteries for electric vehicles. General Motors (GM) will purchase rare earth magnets for use in electric cars. The automaker will invest in a battery cell development center in Michigan to reduce the cost of building electric vehicles.

Molybdenum market quotation in China: molybdenum concentrate, molybdenum powder and ferro molybdenum prices are unchanged on December 27, 2021 from last week under the imbalanced supply and demand. 

Australian Strategic Materials Ltd (ASM) has signed a joint declaration of cooperation with Korea Mine Rehabilitation and Resources Corporation (KOMIR), formerly known as Korean Resources Corporation (KORES), to secure the supply of rare earths and critical minerals to Korea.