Domestic Rare Earth Prices Fell, And The Price Index Fell By 10% Within The Month

After a sharp rise in the early stage, the domestic rare earth price has fallen recently. According to the data released by China Rare Earth Industry Association, on March 28, the rare earth price index reported 386.0 points, down 3.64% from 400.6 points last week. From the monthly situation, the rare earth price index has decreased significantly since March, and the current index is 10.07% lower than 429.2 points on March 1.

In terms of varieties, the previously hot permanent magnet rare earth category decreased significantly. Among the prices of major rare earth products announced by China Rare Earth Industry Association on March 28, the prices of praseodymium and neodymium products fell sharply. Among them, praseodymium oxide was reported as 998 yuan / kg (the highest reference price, the same below), down 9.27% from the beginning of the month; Neodymium oxide was reported at 1058 yuan / kg, down 13.29% from the beginning of the month; Neodymium was reported at 1340 yuan / kg, down 9.46% from the beginning of the month. Among the mixed rare earths, praseodymium and neodymium oxide reported 1000 yuan / kg, down 9.91% from the beginning of the month; Praseodymium neodymium mixed metal reported 1220 yuan / kg, down 11.14% from the beginning of the month.

Previously, the rare earth price index rose from 254.1 on October 8, 2021 to 429.2 on March 1, 2022, with a phased increase of 68.91%. In early March, the rare earth office of the raw material industry department of the Ministry of industry and information technology interviewed key enterprises on the price of rare earth products. According to the news released on the website of the Ministry of industry and information technology, relevant enterprises are required to ensure the safety and stability of the industrial chain and supply chain, strengthen industry self-discipline, and shall not participate in market speculation and hoarding. At the same time, promote and improve the pricing mechanism of rare earth products, jointly guide product prices to return to rationality, and promote the sustainable and healthy development of rare earth industry.