company news about Rare Earth Prices Today

Today, the mainstream spot price of praseodymium and neodymium oxide is 920,000 yuan / ton, and the mainstream price of praseodymium and neodymium metal is 1.12-1.13 million yuan / ton. The rare earth oxide and metal spot market has low inquiry activity. Last week, the demand for orders from magnetic material companies was weak, and the demand for purchasing and replenishing rare earth raw materials decreased month-on-month. The upstream supply of rare earths continues to be tight, and it is difficult for some ion ore separation enterprises and waste recycling companies to maintain a safe inventory level of raw materials. The overall operating rate of ion ore separation companies and waste recycling companies dropped significantly in June. The fundamentals of rare earths maintain a weak situation of supply and demand.

Affected by factors such as the epidemic situation at home and abroad, the overall demand in the second quarter was weak, and the demand in the fields of new energy vehicles, wind turbines and consumer electronics was lower than expected. At present, some small and medium-sized magnetic material companies still have fewer new orders, and terminal orders The price and raw material cost are not locked, and there is a certain cost inversion phenomenon. Cost and demand pressure have led to low purchasing enthusiasm for magnetic material companies, and the wait-and-see mood has become stronger. 

                                                                                                      News From:  https://www.smm.cn/