Praseodymium Oxide Price – October 15, 2021

Praseodymium Oxide Price – October 15, 2021

Rare earth market quotation in China: praseodymium oxide, neodymium oxide and lanthanum oxide prices continued to rise in the week ended on Friday October 15, 2021. However, as the price of raw materials rises, the profit margin of downstream separated companies continues to shrink, which is one of the factors that is not conducive to the healthy development of the entire industry.

From the supply side, in order to meet the Winter Olympics, the tightening of environmental protection policies in the north has led to a decline in the output of many rare earth companies. Coupled with the continued shortage of electricity in many places and the increase in natural disasters, the release of domestic rare earth mine production capacity is even more limited. In addition, the poor performance of Myanmar's rare earth ore export market is also the main reason why China's rare earth raw material warehouses are difficult to increase.

From the demand side, under the background of double carbon, emerging industries are developing well, and the amount of rare earth functional materials, especially rare earth permanent magnet materials, has been increased to a large extent. In September, the production and sales of new energy vehicles in China were 353,000 and 357,000 respectively, both increased by 1.5 times year-on-year. Therefore, the demand for new energy motor magnetic materials increased slightly that month. The industry expects that the demand for magnetic materials for new energy vehicles will continue to expand in the future.

In September, the producer price index (PPI) of industrial producers rose 1.2% month-on-month, an increase of 0.5 percentage points from the previous month. Among them, the price of means of production rose by 1.5%, an increase of 0.6%; the price of means of living remained flat. Some energy-intensive industries have limited production, and prices have risen more. Among them, the price of non-ferrous metal smelting and rolling processing industry increased by 2.9%, the price of chemical raw materials and chemical products manufacturing industry increased by 2.0%, and the price of ferrous metal smelting and rolling processing industry increased by 1.8%. 

Prices of rare earth products on October 15, 2021

Picture of rare earth permanent magnet materials

Follow our WeChat to know the latest tungsten price, information and market analysis.

• < Prev
• Next >

Link to this article：Praseodymium Oxide Price - October 15, 2021

Reprint Statement: If there are no special instructions, all articles on this site are original. Please indicate the source for reprinting:Tungusten，Thanks！^^