Rare earth prices rebounded as the demand for magnetic materials increased and the supply was tight
Rare earth prices rebounded as the demand for magnetic materials increased and the supply was tight
Recently, driven by factors such as the increase in demand for downstream magnetic materials, the market supply has been tight, and the price of rare earths has rebounded. The data shows that europium oxide rose by nearly 7% on the 3rd, and rose by 18.5% in the past week. Terbium oxide, metal praseodymium neodymium, and praseodymium neodymium oxide also rose to varying degrees.
Since the beginning of the year, the price of rare earths has started to rise, and the prices of some varieties have increased by nearly 10%. The northern rare earths have repeatedly raised the listed prices of rare earths. From the perspective of China's rare earth exports, in February 2017, the volume increased and the price fell, but the data in March has shown a situation of both volume and price.
Rare earth prices are rising, on the one hand, due to the effect of the combination of policies. Frequent small-batch purchases and storage, special anti-crime operations, and strengthened control over the six major rare earths have ushered in an upward trend in rare earth prices. On the other hand, the trend of rare earth consumption is improving, and supply and demand are improving. Rare earth magnetic materials account for a quarter of rare earth consumption, and its average annual consumption growth rate reaches 10%. In addition, there are steady growth in some other large application fields, such as catalysts and metallurgy. Demand has risen while the total amount of quota indicators remains unchanged. Coupled with the normalization of crackdown on rare earths, the actual supply has shrunk, and the price of rare earths has risen.
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