Domestic output of PrNd alloy in March 2023 stood at 5,180 mt, down 1.2% MoM. Sichuan and Guangxi cut output slightly. Output in other regions changed little compared with February.
In March, the prices of PrNd alloy remained on the downswing. In the first quarter, the orders of downstream magnetic material enterprises remained slack. Most of them lowered raw material inventories on purpose, dampening demand for PrNd alloy.
Due to the continuous decline in PrNd oxide prices, some PrNd alloy factories that purchased PrNd oxide began to curtail production.
The output of PrNd alloy in Guangxi decreased by 13% month-on-month, and that in Sichuan decreased by 8% month-on-month. Manufacturers who used PrNd oxides separated by themselves were less affected by the drop in market prices, and their output has not yet been significantly reduced.
