Rare earth price stayed depressed last week. On December 1, the listing price of China Northern Rare Earth (Group) High-Tech in December was the same as that in November, making some separation plants confident in Pr-Nd market outlook, and thereby increasing their offers for Pr-Nd oxide.

On the evening of December 1, China Northern Rare Earth (Group) High-Tech released the listed prices of rare earth products in December 2023, and the prices were the same as that in November. 

According to data from the General Administration of Customs, rare earth exports in November were 4,205.8 mt

According to rare earth ore traders in Myanmar, Myanmar will once again suspend the transportation of auxiliary materials starting from December 5, and the transportation of rare earth ore starting from late December.   

Prices of SMM mainstream rare earth permanent magnets

Pr-Nd product prices weakened in November.

Medium and heavy rare earth prices started rebounding last week.

Advanced Electric Machines (AEM) raised $29 million to scale up production of fully recyclable EV motors that contain no rare earth or copper.

According to customs data, China’s rare earth metal ore imports in October 2023 were 3,299 mt, down 60% YoY and 34% MoM, bringing total imports in the first ten months of 2023 up to 56,275 mt, down 18% YoY.

On November 8, General Motors and Stellantis reached a cooperation with Niron Magnetics, a US start-up, to develop the next generation of rare earth-free permanent magnet motors.