On July 1, China Northern Rare Earth released the listing prices for rare earth products for July 2024. All rare earth product prices remained flat MoM. Lanthanum oxide was listed at 4,100 yuan/mt, cerium oxide at 7,600 yuan/mt, Pr-Nd oxide at 384,800 yuan/mt, neodymium oxide at 393,200 yuan/mt, Pr-Nd alloy at 478,000 yuan/mt, and neodymium metal at 488,000 yuan/mt.
According to an SMM survey, after the release of the “Regulations on the Management of Rare Earths,” the listing prices of China Northern Rare Earth remained flat MoM, which significantly boosted the confidence of industry participants in the price outlook, and sellers increased their quotations.
However, as downstream magnetic material companies continued to face weak orders. The persistent weak demand made it difficult for buyers to accept high-priced raw materials, causing rare earth prices to quickly fall the next day.
