Chinese Rare Earth Market - July 12, 2024

This week, the domestic Chinese rare earth market exhibited mixed trends amid a confluence of bullish and bearish factors. Light and heavy rare earth traders had differing sentiments, with praseodymium and neodymium prices experiencing tentative increases, while dysprosium and terbium prices continued to decline.

In the light rare earth market, the overall situation slightly improved, mainly due to increased inquiries from downstream users, strong confidence among suppliers in holding prices, stable listed prices from Northern Rare Earth this month, and a smaller decline in Northern Rare Earth's third-quarter rare earth concentrate trading prices. In the medium and heavy rare earth market, the situation was weaker. The main reasons for the difficulty in stabilizing medium and heavy rare earth product prices were low enthusiasm among buyers and relatively ample market spot supply. However, supported by production costs, the price decline was significantly smaller than in the previous period.

According to Chinatungsten Online statistics, current praseodymium-neodymium oxide prices rose by about 4,000 yuan/ton from last week, an increase of 1.11%; praseodymium-neodymium metal prices increased by about 2,000 yuan/ton, a rise of 0.45%; terbium oxide prices fell by about 100 yuan/kg, a decrease of 1.87%; dysprosium oxide prices dropped by about 40,000 yuan/ton, a decline of 2.21%; 55N NdFeB blank prices remained stable compared to last week; and NdFeB scrap (praseodymium-neodymium) prices rose by about 2 yuan/kg, an increase of 0.50%.

In other news, Northern Rare Earth expects to achieve a net profit attributable to the parent company of 37 million to 54 million yuan in the first half of 2024, a decrease of 1,002 million to 1,019 million yuan compared to the same period last year, down by 94.89% to 96.50% year-on-year. The company expects to achieve a net profit after deducting non-recurring gains and losses of 8 million to 12 million yuan, a decrease of 1,003 million to 1,007 million yuan compared to the same period last year, down by 98.82% to 99.21% year-on-year.

Prices of rare earth products on July 12, 2024

Picture of neodymium oxide

Follow our WeChat to know the latest tungsten price, information and market analysis.

 

• < Prev
• Next >