Rare earth Price Increases
Rare earth price went down from 2011, and it has gone into price trough by 2016. But since February 2017, the rare earth industry boom has improved significantly. Over the past 3 months, rare earth product prices generally rose between 10% and 20%, of which praseodymium, neodymium, dysprosium related products rose the most obvious.
Related statistics show that PR Nd oxide domestic producer prices started uprising since February 6th, from RMB259000/ton up to RMB 301500/ton, increased 16.41%. During the period, the price of neodymium oxide rose 11.97%; praseodymium oxide rose 14.62%; PR nd alloys rose by 13.15% compared with the beginning of the year. Recently, metal dysprosium increased since May, has risen 3.03% until now; metal praseodymium price has also risen 2.61% within 1 months.
"Although the price of rare earth has gone up for more than 3 months, it is still low historically and the upside is huge."
About 35% to 40% of domestic consumption of rare earth is used in rare earth permanent magnets, not only for traditional home appliances, electric bicycle, luggage buckle and other fields, but also for the emerging field, such as wind turbine, new energy vehicles, household appliances, Inverter appliances, energy-saving elevator etc.
In January 23, 2017, Officials pointed out that the new high efficiency semiconductor lighting and rare earth luminescent materials technology development should be speeded up in the future, breakthrough key technologies of application of amorphous alloy in rare earth permanent magnet motor, vigorously develop the rare earth permanent magnet motor and supporting rare earth permanent magnet materials. This will boost the growth of rare earth metals demand and strengthen market confidence.
Experts said that the expansion of rare earth illegal special action will effectively regulate the industry order and strengthen the control of rare earth output. At the same time, high frequency purchasing and storage to boost market confidence, coupled with the expected growth of rare earth permanent magnet materials, rare earth market will keep going up. Rare earth prices are expected to continue to rise in 2017.
