SunSirs--China Commodity Data Group

Sign In

Join Now

Home > Commodity News > News Detail
Commodity News
SunSirs: China Nonferrous Metals Rare Earth Increases Production, Market Prices Rise
November 26 2019 09:18:52SunSirs(Linda)

Recently, the domestic market prices of heavy rare earth have rebounded. On November 25, the price of dysprosium oxide rose by 20,000RMB/ton to 1.61 million RMB/ton; the price of dysprosium ferroalloy rose by 10,000RMB/ton to 1.60 million RMB/ton; some domestic market prices of light rare earth also rose, with the price of neodymium oxide rising by 2,500RMB/ton to 286,500RMB/ton; the price of praseodymium neodymium alloy rose by 2,500RMB/ton to 363,000RMB/ton; and the price of praseodymium neodymium oxide rose by 2,500RMB/ton to 286,500RMB/ton. The domestic prices of heavy rare earth have rebounded higher, and the market prices of light rare earth have stopped falling. Affected by the favorable national policies, the domestic rare earth market has improved.

On November 24, the rare earth Commodity Index was 334, the same as that of November 23, 66.60% lower than the peak of 1,000 in the cycle (Dec 6, 2011), and 23.25% higher than the lowest point of 271 (Sep 13, 2015). (Cycle: Dec 1, 2011 to date)

Recently, the market prices of rare earth have continued to rise, the prices of heavy rare earth in the rare earth market have increased, the export of heavy rare earth has improved. In addition, the demand for permanent magnet has increased recently, the market trend of PR nd series products has stopped falling, the on-site supply was normal, the demand for light rare earth has been general recently, and the market prices remain low. The price fluctuation of rare earth market was related to the national environmental protection supervwasion. Rare earth production has particularity, especially some products have radiation hazards, which makes the environmental protection supervwasion more strict. Under the strict inspection of environmental protection, the manufacturer reasonably controls the sales, but the downstream demand has not changed much recently, and the price trend of most rare earths has been mainly stable.

Geng Shuang, spokesman of the Minwastry of Foreign Affairs said that China was the world's largest country in rare earth reserves and production, and plays an important role in the global rare earth industry chain. China has always adhered to the principle of openness, coordination and sharing, promoted the development of domestic rare earth industry, and was willing to meet the legitimate needs of the development of all countries in the world with rare earth resources and products, to play a positive role in promoting the development of China's economy and the world economy. China's rare earth production accounts for 73% of the world's total, ranking first in the world. Rare earth PR nd and Dy TB are mainly used in NdFeB magnetic steel. In addition, recently the Ministry of Industry and Information Technology and the Ministry of Natural Resources jointly issued a notice to release the total amount control indicators of rare earth mining and smelting separation and tungsten mining in 2019. The Ministry of Industry and Information Technology of China announced that in 2019, the total amount of rare earth mining and smelting separation was 132,000 tons and 127,000 tons respectively, while in 2018, the quota of rare earth mining was 120,000 tons, an increase of 12,000 tons. In 2019, this data is the highest since 2014. The supply and demand pattern of rare earth industry is expected to further improve, China's domestic demand has improved, and the price of domestic rare earth market has increased.

Rare earth analysts of Sunsirs expect that the recent domestic environmental protection scrutiny will not be reduced. In addition, the domestic export of rare earth industry will be well supported, and the supply and demand pattern is improving in a good way. It is expected that the prices of heavy rare earth in the rare earth market are still expected to continue to rise, and the prices of light rare earth affected will also have a rebound.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

Exchange Rate:

8 Industries
Energy
Chemical
Rubber & Plastics
Textile
Non-ferrous Metals
Steel
Building Materials
Agricultural & Sideline Products