[Domestic] August Listing Prices of China Northern Rare Earth Held Flat MoM

Following the flat listing prices in July, China Northern Rare Earth's August listing prices remained flat. On August 1, China Northern Rare Earth announced the listing prices for rare earth products for August 2024, with all prices remaining flat MoM. Lanthanum oxide was listed at 4,100 yuan/mt, flat MoM; cerium oxide was listed at 7,600 yuan/mt, flat MoM. Pr-Nd oxide was listed at 384,800 yuan/mt, flat MoM; neodymium oxide was listed at 393,200 yuan/mt, flat MoM; Pr-Nd alloy was listed at 478,000 yuan/mt, flat MoM; neodymium metal was listed at 488,000 yuan/mt, flat MoM.

According to SMM, the current rare earth market has seen several positive developments. With downstream orders picking up, Pr-Nd product stocks fell rapidly. Additionally, the insufficient supply from rare earth miners led to repeated increases in quotes from separation plants. The transaction prices of Pr-Nd oxide also rebounded in late July. Under these circumstances, most market participants have raised their expectations for the future. With a sentiment of chasing an upward price movement and holding back amid price downturn, traders started stockpiling, and the inquiries in the rare earth market increased.