Ion-Adsorption Ore Inventory at Separation Plants Remains Sufficient; Medium-Heavy Rare Earth Production Increased Slightly MoM in November [SMM Analysis]  

In November 2024, the production of dysprosium oxide and terbium oxide increased compared to the previous month, while gadolinium oxide production continued to decline. Meanwhile, holmium oxide production maintained a slight upward trend.

According to the SMM survey, driven by increased demand from leading producers and market news, the production of dysprosium oxide and terbium oxide saw a slight MoM increase. In contrast, the market demand for gadolinium oxide remained sluggish, prompting some separation enterprises to adjust their operating rates.

Additionally, China's ion-adsorption ore imports from the Panwa region had not returned to normal in November, posing challenges for companies relying on imported ion-adsorption ore for production. Miners expect this situation to persist until the end of December, indicating that ion-adsorption ore supply in the region may remain tight in the short term. Despite the ongoing disruption in ion-adsorption ore imports, domestic separation plants have sufficient inventory, ensuring that the production of medium-heavy rare earth oxides remains unaffected.