According to the Commodity Market Analysis System of Shengyi Society, the domestic light rare earth market price trend has risen. On August 18th, the Shengyi Society Rare Earth Index was 525 points, up 18 points from yesterday, a decrease of 47.86% from the highest point of 1007 points during the cycle (2022-02-24), and an increase of 93.73% from the lowest point of 271 points on September 13, 2015. (Note: The cycle refers to the period from December 1, 2011 to present)
Domestic prices of neodymium oxide, metallic neodymium, praseodymium oxide, metallic praseodymium, praseodymium neodymium alloy, and praseodymium neodymium oxide have all significantly increased. As of the 19th, the price of neodymium oxide was 650000 yuan/ton, an increase of 18.18% since August; The price of neodymium metal is 777500 yuan/ton, with a price increase of 17.80%; The price of praseodymium oxide is 642500 yuan/ton, with a price increase of 18.43%; The price of praseodymium metal is 765000 yuan/ton, with a price trend increase of 14.18%; The price of praseodymium neodymium alloy is 762500 yuan/ton, with a price increase of 15.97%; The price of praseodymium neodymium oxide is 625000 yuan/ton, with a price increase of 20.19%.
In August, the domestic light rare earth market prices rose significantly, and the domestic light rare earth market supply was relatively tight. There were macro news leaks, and the supply and demand pattern of praseodymium neodymium products may further tighten, exacerbating market expectations of shortages. As a result, the light rare earth market prices rose significantly. The booming development of downstream industries such as new energy vehicles and home appliances has driven downstream magnetic material factories to see a significant increase in orders in the fourth quarter. In addition, sufficient orders from magnetic material manufacturers have boosted domestic demand for light rare earths, leading to an upward trend in the light rare earth market.
After years of governance, the domestic rare earth industry has gradually formed a supply pattern dominated by large groups and relatively concentrated raw materials. With the continuous development of the foreign rare earth industry, China’s rare earth production share has declined from 90% to 70%, which has brought certain benefits to the domestic rare earth market.
Market forecast: Recently, magnetic material companies have shown positive purchasing sentiment, and the supply-demand game in the light rare earth market continues. The supply-demand imbalance of praseodymium neodymium series products is evident; In addition, the long-term growth trend of terminal demand for industrial robots, new energy vehicles, wind turbines, and other devices remains unchanged. The penetration rate of high-performance neodymium iron boron permanent magnets in the terminal is expected to continue to increase, and the market trend of light rare earths is expected to rise in the short term.
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