In June, China's Pr-Nd oxide output was 7,325 mt, up 3.7% MoM, with the main increase reflected in Inner Mongolia and Guangxi. According to SMM, in June, the output of some separation plants increased, leading to a slight increase in the total output of Pr-Nd oxide. Among them, the output of Inner Mongolia increased by 21% MoM, and that of Guangxi increased by 7% MoM. It is understood that the current supply of Pr-Nd oxide remains relatively sufficient. Many traders have a pessimistic outlook on Pr-Nd oxide prices. While rare earth miners showed a low willingness to sell, downstream demand was poor. It is expected that Pr-Nd oxide output will slightly decrease in July.
In June, China's Pr-Nd alloy output was 5,994 mt, up 1.29% MoM. The overall Pr-Nd alloy output in June held stable, with little change in the operating rates of Pr-Nd alloy plants compared to May.
In July, the shipments of magnetic material plants increased. This is because the end-user market, after two months of wait-and-see stance, had limited raw material inventories and needed to restock. This is expected to bring positive demand for Pr-Nd alloy. It is anticipated that Pr-Nd alloy demand in July will improve compared to June, and Pr-Nd alloy output will slightly increase in July.
