Higher Prices Pushed Up Domestic Output of Praseodymium-Neodymium Alloy in January 2023

SHANGHAI, Feb 9 (SMM) - Domestic output of praseodymium-neodymium alloy in January 2023 stood at 5,223 mt, up 1.7% MoM. Fujian and Inner Mongolia accounted for most of the output growth, and the output of other regions has no significant change compared with December 2022.

In January, the price of praseodymium-neodymium alloy continued to rise. Due to the output cuts and shutdown of separation plants and recycling companies in December, the spot supply of praseodymium-neodymium alloy has been greatly tightened, and the quotations were raised frequently. Praseodymium-neodymium alloy plants hardly had access to raw materials. Meanwhile, downstream magnetic material companies stocked up for CNY holidays, and made inquiries actively. In this scenario, the price of praseodymium-neodymium alloy climbed.

During the CNY holidays, most praseodymium-neodymium alloy plants remained in normal production. Some of the plants that had ended maintenance commenced in December also reported small output growth. The output in Inner Mongolia increased by about 2% from the previous month, and the output in Fujian increased by a remarkable 50%.