Domestic output of PrNd oxide in March 2023 stood at 6,011 mt, up 4% MoM. Output increased across Shandong and Jiangsu to varying degrees. Output in Jiangxi fell slightly.
According to SMM survey, due to the large increase in imported rare earth ores and the demand for rare earths having not recovered, the overall price trend of rare earths was under pressure. In the first quarter, the prices of PrNd oxide showed a downward trend as a whole.
With stubbornly poor demand, some plants began to reduce production, and their purchasing enthusiasm also declined. Losses at scrap recycling companies remain, and their operating conditions can hardly improve in the short term.
However, due to the production plans to be fulfilled and the further recovery of production situation, some separation plants reported a large increase in output. In March, the output of PrNd oxide in Jiangsu increased by 39% month-on-month, and that in Shandong increased by 17% month-on-month.
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