This week (October 16-20, the same below), the rare earth market as a whole continued a downward trend. The sharp decline at the beginning of the week slowed down to a weak point, and the trading price gradually returned. The trading price fluctuation in the later part of the week was relatively small, with obvious signs of stabilization.
After experiencing last week's stabilization, it was expected that the rare earth market would rise in a narrow range this week. However, last Saturday, the news of a 176 ton metal praseodymium neodymium auction on the rare earth exchange stirred market confidence. At the beginning of this week, the price of light rare earths plummeted, disturbing the market with extremely low prices. Although major enterprises did not quote or ship, despite the flat inquiry, the price of praseodymium neodymium still dropped by 1% compared to last weekend. Subsequently, 176 tons of metal praseodymium neodymium were sold out in a very short period of time, despite the highest price of 633500 yuan/ton, which also briefly stimulated the market. Stable and rational prices began to rebound, and it was difficult to see virtual low prices. The market experienced a "bustling" of epiphyllum flowers
In the middle of the week, the rare earth market represented by praseodymium and neodymium began to show a lack of momentum again. The prices of various factories returned to rationality, and after the price of metal praseodymium neodymium decreased by 10000 yuan/ton compared to last week, downstream procurement began to wait and see - based on the current orders and similar ups and downs in previous times, it is difficult to expand the space for upward and downward exploration, and procurement can wait and so on. Subsequently, the quotation and transaction slightly weakened.
With the arrival of the weakness of praseodymium and neodymium, dysprosium and terbium products have become increasingly concerned about the protection of large factories, policies, and inventory of raw ore waste. Prices have also been weakly adjusted, and the inherent confidence in the industry has slightly shaken. By the weekend, the transaction prices of heavy rare earths have cracked.
As of October 20th, some rare earth products have quoted prices of 42-4600 yuan/ton for cerium oxide and 2400-2500 yuan/ton for metallic cerium; Praseodymium neodymium oxide is 522-525000 yuan/ton, and metal praseodymium neodymium is 645000 yuan/ton; Neodymium oxide is 525-530000 yuan/ton, and metallic neodymium is 645-65000 yuan/ton; Dysprosium oxide 2.67-2.7 million yuan/ton; Dysprosium iron 2.6-2.62 million yuan/ton; 8.3 to 8.4 million yuan/ton of terbium oxide and 10.5 to 10.7 million yuan/ton of metallic terbium; 285000 to 290000 yuan/ton of gadolinium oxide, 275000 to 28000 yuan/ton of gadolinium iron; Holmium oxide is 615-62000 yuan/ton, and holmium iron is 62-625000 yuan/ton; Erbium oxide: 295-30000 yuan/ton; 44000 to 47000 yuan/ton of 5N yttrium oxide.
On Wednesday, at a press conference of the State Council, the National Bureau of Statistics gave a growth rate of 5.2% for the first three quarters of this year, indicating that China's economy is recovering well and seems to have passed the toughest moment of the year. Xiaotu expects that there is little possibility of introducing clear and favorable policies in the fourth quarter. Undoubtedly, new energy vehicles, lithium batteries, and photovoltaics are still areas of growth, just as 3C and new energy vehicles are currently the demand points for rare earths.
This week, metal factories have mostly adjusted their prices based on the corresponding oxide raw materials and costs, but smelting enterprises are still near the theoretical cost line, and the improvement of profits in the metal industry has not improved. Therefore, metal prices have remained stable without significant fluctuations this week. However, upstream enterprises have confidence in the future market prediction due to their relatively sufficient supply of raw ore and waste, making room for profit.
Post time: Oct-23-2023