Supply is tight, demand is under pressure, and production of praseodymium neodymium oxide and praseodymium neodymium metal declines in June

In June 2022, the domestic production of praseodymium and neodymium oxide was 5,928 tons, a decrease of 7.5% from the previous month. The main increase came from Jiangxi, Fujian and other places, and the main decrease came from Jiangxi, Shandong, Inner Mongolia and other places.

In June, the supply of scrap was still tight, and the production of praseodymium and neodymium oxide in Shandong, Jiangxi and Inner Mongolia decreased by 22%, 5% and 16% sequentially. Affected by the epidemic and sluggish demand, the order volume of magnetic material companies shrank in the second quarter, and the output of NdFeB waste decreased accordingly. Due to insufficient supply of raw materials and high prices, some waste separation enterprises in the above areas have reduced or even stopped production of their plants, resulting in a decrease in the output of praseodymium and neodymium oxide.

The output of praseodymium and neodymium oxide in Fujian increased by 10% month-on-month. As the company has long orders to deliver, the output of praseodymium and neodymium oxide increased slightly.

In July, the supply of ion mines in Jiangxi and Myanmar may increase slightly, but the shortage of waste materials is difficult to ease, and the demand side is difficult to improve. It is expected that the output of praseodymium and neodymium oxide will decrease month-on-month in July.

In June 2022, the domestic production of praseodymium and neodymium metal was 5,163 tons, a decrease of 4.5% from the previous month. The main reductions came from Jiangxi, Sichuan and Inner Mongolia.

The output of praseodymium and neodymium metal in Jiangxi, Sichuan and Inner Mongolia decreased by 8%, 13% and 2% sequentially. The order volume of magnetic material enterprises has decreased, and the prudence in purchasing raw material praseodymium and neodymium metal has increased. The order performance of metal enterprises was flat, and the temperature in Inner Mongolia increased, the furnace temperature of metal enterprises increased, and the cost of equipment maintenance increased, which affected some metal enterprises to reduce production. Production of praseodymium and neodymium metal is also expected to shrink in July.