Latest Update in the China Rare Earth Oxides Market

SMM predicts that PrNd prices will keep moving sideways within a rather narrow range in the short term.

China’s copper cathode output stood at 901,200 mt in October, down 0.9% month-on-month (MoM) and up 14.2% year-on-year (YoY). The output totalled 8.51 million mt from January to October, an increase of 2.8% or 232,800 mt on the year.

SMM statistics showed domestic output of PrNd alloy in October decreased 0.71% month-on-month to 5,149 mt.

According to the report, a team from the University of Cambridge and collaborators from Austria have discovered a way to make a new magnetic material, naming tetrataenite, which could be an alternative to rare earth permanent magnets, according to a research paper from the university.

Today, rare earth oxide prices generally increased. According to SMM, the mainstream transaction prices of PrNd oxide rose to 670,000-675,000 yuan/mt; terbium oxide 13,350-13,400 yuan/kg; dysprosium oxide 2,330-2,350 yuan/kg; gadolinium oxide 370,000-375,000 yuan/mt; holmium oxide 720,000-740,000 yuan/mt today.

Customs data showed that China imported 8,209.5 mt of rare earth metal ore in September 2022, a year-on-year increase of 46.17% and a month-on-month increase of 149.11%.

Rare earth prices started to fall last week with poor inquiries and transactions. Baotou city was still in covid lockdown, while local separation and metal factories were able to maintain normal production, with some even managing to make shipments.

Some separation plants said that the prices of rare earths will not change significantly in the near future. It can also be seen from the recent trend that rare earth prices will keep rangebound without steep changes.