Praseodymium Oxide Price – July 28, 2021

Praseodymium Oxide Price – July 28, 2021

China’s domestic rare earth market is basically flat on July 28, 2021 with prices fluctuating within a reasonable range. The price of praseodymium oxide rose to 650,000 yuan/ton, neodymium oxide rose to 600,000 yuan/ton, and neodymium praseodymium oxide rose to 595,000 yuan/ton. The prices of terbium and dysprosium oxide dropped to 7,900 yuan/kg and 2,600,000 yuan/ton, respectively.

The main reasons for this situation are as follows: first, due to the recent impact of power rationing in many places, tightening of environmental protection policies and severe weather, domestic rare earth mining is limited, which makes it difficult to find low prices on the site; second, it is still supportable by downstream demand and traders have a strong sense of profit; third, with the growth of consumer electronics, smart home appliances, electric vehicles and other industries, rare earths may be in short supply in the future, which will drive the continued growth of rare earth prices; fourth, the epidemic in some overseas countries is severe. Under the influence, China's export market performed poorly. In June, China's export volume of rare earths and their products dropped slightly from the previous month.

In the news: in the first half of 2021, the export of lithium electric products such as lithium hydroxide and artificial graphite in Jiangxi Province increased by 42.2%, and the export of rare earths and their products increased by 87.8%. From January to June, Jiangxi Province had 4,985 enterprises with actual import and export performance, an increase of 14.8%. Among them, there were 1,714 new enterprises with 66.78 billion yuan in imports and exports, accounting for 29.4% of the province’s foreign trade, of which exports were 60.43 billion yuan, accounting for 35.9% of the province’s foreign trade exports.

Prices of rare earth products on July 28, 2021

Picture of lanthanum oxide

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