China Rare Earth Price – July 7, 2021
- Category: tungsten‘s News
- Published on Wednesday, 07 July 2021 18:05
China rare earth price is in the upward trend on July 7, 2021 as tight supply and increased demand boost market confidence. The industry predicts that the price of mainstream products is unlikely to fall again in the short term. In the medium and long term, due to the optimistic expectations of global economic growth and the expanding scale of emerging markets, the demand for rare earths is expected to increase.
From the supply side, apart from the low season and the current price of rare earths that have dropped significantly compared to the end of the first quarter, this is the reason for rare earth mining companies to actively reduce production. The tightening of environmental protection policies and the increase in natural disasters also force smelters. And the reason for the release of the production capacity reduction of the separation plant. In addition, Myanmar's export restrictions are not conducive to the increase in China's rare earth product inventory.
From the demand side, firstly, the current rare earth prices are relatively low, which can stimulate the consumption desire of downstream users to a certain extent; secondly, rising global inflation promotes increased sentiment among traders to do more, thereby enhancing the liquidity of the rare earth market; thirdly, affected by the expected significant increase in the penetration rate of new energy vehicles, 5G communications, inverter air conditioners and smart devices, the large amount of rare earth functional materials is the main reason for the increased consumption initiative of buyers.
Prices of rare earth products on July 7, 2021
Picture of europium oxide
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