Neodymium Oxide Price – October 21, 2021

Neodymium Oxide Price – October 21, 2021

China’s terbium oxide, neodymium oxide and dysprosium oxide prices are in the upward trend in the second half of October, 2021. In addition to being supported by the tightening of raw material supply and increasing market demand, the continuous introduction of favorable policies has also greatly enhanced suppliers' confidence in price increases. 

The current prices of neodymium praseodymium oxide and neodymium praseodymium have risen to 630,000 yuan/ton and 780,000 yuan/ton respectively, and the prices of terbium oxide and dysprosium-iron alloy are around 9,050 yuan/kg and 2,750,000 yuan/ton respectively.

From the supply side, due to the continued environmental inspections and the tight electricity consumption in some regions, the production capacity release of rare earth smelting companies is limited, coupled with the poor performance of the Myanmar rare earth export market, which is more conducive to domestic suppliers' firm quotations.

From the demand side, in the traditional peak season of consumption, the sales of new energy vehicles, electronic products, smart home appliances, inverter air conditioners and other products have been considerable, which greatly boosted the confidence of magnetic materials companies in entering the market, thus prompting the sale of rare earth raw materials. 

From a policy perspective, first, the State Council stated that vigorously promoting the professional integration of rare earths, logistics and other fields will help the healthy and stable development of the rare earth industry; second, due to factors such as resource endowment, production capacity, environmental protection, and administrative approval for expansion, the allocation of domestic rare earth indicators will be more inclined to northern rare earths in the future. 

Prices of rare earth products on October 21, 2021

Picture of cerium oxide

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