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China Rare Earth Price – November 27, 2020

Posted by: Chris Na 2021-10-29 Comments Off on China Rare Earth Price – November 27, 2020

China Rare Earth Price – November 27, 2020

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Category: tungsten’s News
Published on Friday, 27 November 2020 18:31

China rare earth price kept rising in the week ended on Friday November 27, 2020 thanks to good trading atmosphere and market confidence. neodymium oxide price increased to 98,000 yuan/ton and praseodymium oxide price increased to 32,000 yuan/ton. 

From the supply side, first, with the strengthening of environmental protection, the release of rare earth smelting enterprises' production capacity has slowed down, which in turn supports the upward adjustment of market prices; second, the winter is coming, making mining more difficult and reducing inventory growth rate; third, the "Export Control Law" is about to take effect, which will reduce the export volume of rare earths to a certain extent and increase the strategic value of rare earths, thus contributing to price increases.

From the demand side, first, with the gradual stabilization of the overseas epidemic, the global manufacturing industry such as new energy vehicles and excavator industries has also been repaired, thereby increasing the demand of downstream magnetic materials companies, so the market transactions are good; second, the export volume of rare earths may reduce in the future and downstream users' enthusiasm for receiving goods has also increased compared with before to ensure that the company can maintain normal operations in the future.

Prices of rare earth products on November 27, 2020

Picture of neodymium oxide

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