Latest Update in the China Rare Earth Oxides Market

The General Administration of Customs announced on August 7 that in the first seven months of this year, the total value of China's foreign trade imports and exports was 23.6 trillion yuan, a year-on-year increase of 10.4%.

China imported a total of 44,827 mt of rare earth ores in first half of 2022, a decrease of 17% YoY. Among them, the imports of rare earth metal ore was 41,243 mt, a year-on-year increase of 15%.

The rare earth market today continued to be sluggish, and the prices of PrNd products dropped further. Some traders were cautious on the sidelines with bearish sentiments towards the market outlook.

The light rare earth market extended the weakness today, with prices of PrNd oxide and alloy falling further. Separation companies were not very enthusiastic in making offers. The mainstream prices of PrNd oxide stood at 770,000-780,000 yuan/mt.

As of July 29, the mainstream prices of PrNd oxide were lowered to 800,000-810,000 yuan/mt, down 13% from 930,000 yuan/mt at the beginning of the month. The prices of PrNd alloy also dropped to 970,000-980,000 yuan/mt, down 14% from 1.13 million yuan/mt early in July.

PrNd products prices kept falling amid insufficient demand from early June to late July. The prices of PrNd oxide were lowered from 950,000 yuan/mt to 810,000 yuan/mt, a drop of 14.7%.

With the rapid development of the robot industry, the rare earth permanent magnet industry is expected to usher in a new growth era comparable to that of new energy vehicles. At the same time, the acceleration of the industrialisation of humanoid robots may further increase the demand for high-performance NdFeB.

SHANGHAI, Jul 26 (SMM) - Boosted by the rising price of rare earth and the rapid growth of downstream demand, the rare earth recycling industry is ushering in a new round of expansion.