Demand for magnetic materials increases while supply is tight rare earth prices rebound
Time：2024-04-16
Recently, driven by factors such as increased demand for downstream magnetic materials, the market supply is tight, and rare earth prices have rebounded. Data show that europium oxide rose nearly 7% on the 3rd, up 18.5% in the past week, terbium oxide, praseodymium neodymium, praseodymium neodymium oxide and other varieties also rose to varying degrees.
Since the beginning of the year, rare earth prices began to rise, the price of some varieties rose by nearly 10%, and the northern rare earth is repeatedly raised the listed price of rare earth. 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 volume and price growth.
The rise in rare earth prices, on the one hand, comes from the effect of the policy combination. Frequent small batch storage, special anti-black action, six major rare earth control strengthened, rare earth prices ushered in an upward market. 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 annual consumption growth rate has reached 10%. In addition, in some other large application areas, such as catalysts, metallurgy, etc., there is steady growth. Demand rises while the total quota index remains unchanged, coupled with the normalization of rare earth black, the actual supply shrinks, and rare earth prices rise.
