China’s Domestic Rare Earth Market – July 8, 2021
- Category: tungsten‘s News
- Published on Thursday, 08 July 2021 17:24
China’s domestic rare earth market as a whole shows a stabilization and recovery pattern on July 8, 2021. Affected by the imbalance between supply and demand, the market is slowly turning from a buyer's market to a seller's market. Therefore, the prices of most mainstream products have risen to varying degrees, but the transaction still needs to be improved.
From the supply side, the increased rectification of the rare earth industry and the increase in seasonally affected natural disasters such as mountain torrents and mudslides are the main factors leading to the reduction of production capacity of miners and separation companies. For example, some companies in Sichuan and Jiangxi have recently stopped production and reduced production. In turn, it supports the business mentality.
From the demand side, due to the recent shortage of chip supply, the output of new energy vehicles and 3C electronic products has been subject to certain restrictions, which is detrimental to the rare earth demand market. However, in order to ensure normal production and operation of enterprises in the future, the willingness of downstream buyers to receive goods has increased. In addition, countries in the world are currently striving to deploy new energy fields, which is the main reason for increasing the amount of rare earth permanent magnet materials. Therefore, suppliers are more aware of price increases, and at the same time they have greater confidence in the good operation of the market outlook.
Prices of rare earth products on July 8, 2021
Picture of praseodymium oxide
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