Recently, the price of rare earth oxides has shown an overall weak trend. Sellers of praseodymium and neodymium products reduced quotations, and the spot cargoes circulating in the market have tightened after the separation plants delivered for the long-term contracts. However, metal factories are less willing to purchase. The price of praseodymium and neodymium was relatively stable at the beginning of the month as the Chinese New Year holiday approached and logistics was shut down. However, price has been declining since the Chinese New Year holiday. In February, the price of PrNd oxide fell by about 9%, and the price of PrNd alloy also fell by 8% during the month.
After the Lantern Festival, downstream magnetic materials companies have basically started full operations, but the actual trading in the rare earth market was still sluggish. As raw material prices continue to fall, the orders from downstream magnetic material companies were weak. And purchasers had a strong wait-and-see attitude. Some industry players said that the current rare earth prices have dropped to the lowest level in nearly three years. If rare earth prices continue to fall in the future, magnetic material factories may face the risk of canceling orders.
