Recently, driven by factors such as increasing demand for downstream magnetic materials, market supply has been tight, and rare earth prices have rebounded. Data shows that europium oxide rose by nearly 7% on the 3rd, and rose by 18.5% in the past week. Varieties such as terbium oxide, neodymium praseodymium, and neodymium praseodymium oxide also rose to varying degrees.
Since the beginning of the year, the price of rare earths has begun to rise, with prices of some varieties rising by nearly 10%, and Northern Rare Earths has repeatedly raised the listing prices of rare earths. From the perspective of my country's rare earth export situation, in February 2017, the volume increased and the price fell, but the data in March has shown a situation where both the volume and the price have increased.
Rare earth prices are on the one hand due to the effect of the policy combination. Frequent small-batch purchases and storage, special hacking operations, and strengthened control of the six major rare earths have ushered in an upward trend in rare earth prices. On the other hand, the trend of rare earth consumption is improving, and supply and demand are improving. Rare earth magnetic materials account for a quarter of rare earth consumption, and its average annual consumption growth rate has reached 10%. In addition, there has been steady growth in other larger application areas, such as catalysts and metallurgy. Demand has risen while the total quota indicators remain unchanged, coupled with the normalization of the crackdown on rare earths, the actual supply has shrunk and the price of rare earths has risen.
