China Rare Earth Price – January 29, 2021
- Category: tungsten’s News
- Published on Friday, 29 January 2021 18:17
China rare earth price stabilized at a relatively high level in the week end on Friday January 29, 2021 under the fierce competition between buyers and sellers. The market may continue to maintain a narrow range of fluctuations in the short term.
From the perspective of positive factors, first, with the increase in the prevention and control of the epidemic and the continuous development of new crown vaccine technology, the global economy may recover faster this year, which will benefit the development of the manufacturing industry and drive the demand for rare earth products; the second is some products inventories are still at a low level. This is mainly due to the strengthening of environmental protection, limited imports, and power and gas restrictions in most areas; third, it is supported by many rare earth-related policies and policies, such as the "Export Control Law." "Regulations on Rare Earth Management", "New Energy Automobile Industry Development Plan (2021-2035)", etc.
From the perspective of negative factors, with the current overall relatively high product prices, magnetic material companies are also hesitant to enter the market. Most of them are based on on-demand procurement. In addition, with the approaching of Spring Festival, in order to reduce capital expenditures, downstream users are more rational in consumption.
Prices of rare earth products on January 29, 2021
Picture of lanthanum oxide
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