Latest Update in the SMM Rare Earth Oxides Market

[China Northern Rare Earth: Pr-Nd and Other Rare Earth Products Fluctuate Downward, 2024 Net Profit Expected to Decline 54.41%-59.9% YoY] The 2024 performance forecast released by China Northern Rare Earth on January 23 shows that, based on preliminary estimates by the company's financial department, the net profit attributable to shareholders of the parent company for 2024 is expected to reach 9.5 billion to 10.8 billion yuan, a YoY decrease of 54.41%-59.90%. Regarding the main reasons for the profit decline in this period, China Northern Rare Earth stated that in 2024, due to factors such as weak global economic growth and lower-than-expected downstream demand growth affecting market supply and demand dynamics, the prices of major rare earth products, represented by Pr-Nd products, generally showed a fluctuating downward trend, with average prices declining YoY.

[SMM Analysis: Scrap Recycling Operating Rate Rises, Medium-Heavy Rare Earth Oxide Production Shows Relatively Small MoM Change in January] In January 2025, the medium-heavy rare earth oxide market presented a complex picture. At the beginning of the month, data showed a slight MoM decrease in medium-heavy rare earth oxide production from raw ore separation plants, while production from scrap recycling enterprises experienced some MoM growth. Overall, despite the differing trends in raw ore production and scrap recycling, the total production of medium-heavy rare earth oxides showed relatively small changes compared to December 2024.

[SMM Rare Earth Morning Meeting Summary: Market Trading Stalls as Chinese New Year Holiday Approaches] As the Chinese New Year holiday approaches, most separation enterprises have ceased quoting and shipping, logistics operations have largely stopped, and traders' quoted prices remain high, resulting in sluggish market trading activity.

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[SMM Weekly Review: Enterprises Gradually Halt Production for Holiday, Rare Earth Prices Remain Stable During the Week] During the week, rare earth oxide prices overall maintained an upward trend. As the Chinese New Year holiday approached, downstream purchasing activity increased rather than decreased, which led to a relatively noticeable rise in rare earth oxide prices this week. Yttrium oxide prices remained stable this week at 40,000-43,000 yuan/mt.

[SMM Daily Review: Enterprises Gradually Halt Production for Holidays, Rare Earth Market Remains Quiet] The rare earth market remained generally stable today. According to SMM data, prices of major rare earth oxides and metals were relatively stable. Among them, the price of Pr-Nd oxide was 413,000 to 417,000 yuan per mt.

As the Chinese New Year approaches, the year-end effect on the rare earth spot industry chain has become increasingly evident, with overall market activity remaining sluggish. However, driven by the "policy incentives" in the capital market and the active performance of robotics concept stocks, rare earth permanent magnet concept stocks have shown strength. As of 1:47 PM on January 23, the rare earth permanent magnet concept rose by 1.26%, with Long Magnetic Technology up 11.23%, Huahong Technology up 8.52%, and notable gains from Xinlaifu, Zhongke Magnetic Industry, and Eontec.

[SMM Analysis: Pr-Nd Production Declines in January - How Did Domestic Factories Perform During the Chinese New Year?] In January 2025, domestic Pr-Nd oxide production further decreased MoM, while Pr-Nd alloy production also saw a slight MoM decline. The main reductions in Pr-Nd oxide production occurred in Jiangsu, Sichuan, and Shandong, while the primary decreases in Pr-Nd alloy production were observed in Jiangxi and Zhejiang.