This week, the rare earth market continued to develop weakly, with an increase in market shipping sentiment and a continuous decline in rare earth product prices. Separated companies have offered fewer active quotes and low trading volume. At present, the demand for high-end neodymium iron boron continues to grow, and the order volume of magnetic material enterprises has slightly increased, but the price effect is limited. It is expected that the weak price adjustment of mainstream rare earth products will continue next week.
Overview of Rare Earth Spot Market This Week
The overall trading volume in the rare earth market this week was not strong, with cautious quotations from separation plants. There were fewer inquiries for praseodymium neodymium, and the focus of dysprosium terbium transactions shifted downwards. The prices of mainstream products slightly decreased. Metal enterprises do not have a lot of inventory in stock, but their willingness to restock is low, and the price game between upstream and downstream is stagnant. Currently, the overall supply and demand in the domestic market is stable.
Recently, the Vietnamese government plans to restart the country’s largest rare earth mine next year, but Vietnam’s mining level is limited, and existing technology can only export raw ore or primary processed products, which is not enough to further refine or separate elements. At the same time, the Malaysian government has also issued a ban on the export of rare earth raw materials, with the main purpose of protecting local resources. However, overall, the impact on China’s rare earth supply chain is limited.
At present, the demand for high-end rare earth permanent magnet materials is in a growing period, and orders for permanent magnet products are expected to increase in the fourth quarter. Under the influence of upstream raw material price fluctuations and intensified industry competition, magnetic material companies actively adjust their raw material procurement and inventory strategies to reduce operational risks.
The transaction prices in the rare earth waste market have also been continuously decreasing, and the market quotation enthusiasm is not high. In order to avoid product price inversion, some manufacturers have suspended their purchases, resulting in small shipments and trading volumes.
In the long run, downstream industries are developing well, with significant growth in demand for wind power, new energy vehicles, energy-saving variable frequency air conditioning, and robots. Most businesses still have expectations for the future.
Changes in prices of mainstream rare earth products this week
As of Thursday, the quotation for praseodymium neodymium oxide was 511500 yuan/ton, with a price drop of 11600 yuan/ton; The quotation for metal praseodymium neodymium is 631400 yuan/ton, a decrease of 11200 yuan/ton; The quotation for dysprosium oxide is 2.6663 million yuan/ton, a decrease of 7500 yuan/ton; The quotation for terbium oxide is 8.1938 million yuan/ton, a decrease of 112500 yuan/ton; The quotation for praseodymium oxide is 523900 yuan/ton, a decrease of 7600 yuan/ton; The quotation for gadolinium oxide is 275000 yuan/ton, a decrease of 12600 yuan/ton; The quotation for holmium oxide is 586900 yuan/ton, a decrease of 27500 yuan/ton; The quotation for neodymium oxide is 522500 yuan/ton, a decrease of 8400 yuan/ton.
Post time: Oct-30-2023