Latest Update in the SMM Rare Earth Metals Market

According to customs data, China's rare earth metal ore imports in March 2024 were 5905.7 tons, a year-on-year increase of 55% and a month-on-month increase of 68%. The cumulative imports from January to March 2024 were 13,511 tons, a year-on-year decrease of 19%. From January to March 2024, China's unspecified rare earth oxide imports totaled 12,135 tons, a year-on-year increase of 21%. The import volume in March was 5169.3 tons, a year-on-year increase of 34% and a month-on-month increase of 65%.

Today, rare earth prices rose rapidly. According to SMM, mainstream transaction price in the PrNd oxide market rose to 396,000-400,000 yuan/ton. The price of dysprosium oxide increased to 2020-2040 yuan/kg. The price of terbium oxide also increased to 6420-6480 yuan/kg. The price of gadolinium oxide was raised to 186,000-190,000 yuan/ton, and the price of holmium oxide rose to 500,000-510,000 yuan/ton.

Pr-Nd oxide prices rose last week.

Upstream and downstream game sentiment is obvious, rare earth prices fluctuate less during the week [SMM comment: upstream and downstream game sentiment is obvious, rare earth prices fluctuate less during the week] According to SMM, the price of upstream mine holders is firm, and low-cost raw materials are difficult to inquire, although the fear of heights in the market still exists, and the price of oxides has been high and difficult to ......

Pr-Nd oxide prices continued to rise last week.

Purchase prices of rare earth concentrates by China Northern Rare Earth (Group) High-Tech for 2024Q2 issued on the evening of April 9 were adjusted to 16,792 yuan/mt.

Overall, rare earth prices went up last week.

Northern Rare Earth announced on the evening of April 9 that based on the pricing method of rare earth concentrate and the price of rare earth oxides in the first quarter of 2024, after calculation and approval by the company's 6th General Manager's Office Meeting in 2024, the transaction price of rare earth concentrate in the second quarter of 2024 was adjusted to 16,792 yuan/ton (dry basis, REO=50%) excluding tax.