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Rare Earth Market Update 2023#8: Downward Trend Stops as China Improves

The overall rare earths market has bottomed out in mean~late July 2023. The Chinese rare-earth market bottomed out, and there was a noticeable small rebound in ore types as excessive Chinese economic uncertainty eased.

 

■China's Rare-Earth Market Turns Up in June

 

The Rare Earth Price Index, released daily by the Association of China Rare Earths Industry, a Chinese rare earths industry group, hit a record low of 187.7884 on July 12 during the period, the lowest level in the past year or so. The slump in China's economic indicators for June, which had been released the previous day, was not favorable. However, the price bottomed out here and rebounded slightly to 202.7096 on July 28 due to a sense that all the bad news is out of the picture.

 

China Rare Earths Index in June (Association of China Rare Earths Industry)

 

■Lanthanum and dysprosium metal bottomed out

 

The rebound in China's rare earth market has led to a retreat from excessive uncertainty over the outlook for individual ore types around the world.

 

Lanthanum Metal Price Trends (99% FOB China)(USD/Kg)

 

The price of lanthanum metal fell to $3.75/kg at the mean-price on July 6, the lowest level in 18 years since the fall of 2005. However, the price has since ceased to fall and continues to hover at the same level.

 

Dysprosium Metal Price Trends (99.5% FOB China)($/Kg)

 

Dysprosium metal prices rebounded. The price fell to $365/kg at the mean-price on July 6, but bottomed out there and gradually rose to $402/kg on July 28, above the milestone of $400/kg.

 

Neodymium Metal Price Trends (99% FOB China)($/Kg)

 

The price of neodymium metal, a leading material for magnets, hit $76.5/kg at the mean-price on July 13. However, it returned to $80 on July 28.

 

Price Trends for Terbium Metal (99% FOB China)($/Kg)

 

The price of Terbium Metal also hit a recent low of $1265/kg at the mean-price on July 13, and rebounded to $1297/kg on July 28.

 

 

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July 18 China Statistics: Rare Earth Exports Down 17.1% y/y

 

Among the trade statistics for January-June 2023 released by the General Administration of Customs of China on July 13, the total value of rare earth exports declined 17.1% y/y.

 

Total exports for the January-June period were down 3.2% y/y. For the month of June, exports increased 0.5% y/y and imports decreased 1.3% y/y, resulting in a trade surplus of $70.6 billion.

 

Related articles: China Grows 6.3%, Rebound Growth Bigger, Real Estate Slump Weakens Legs | MIRU (iru-miru.com)

 

Related articles: Rare Earth Prices Hit 20-Year Low for Lanthanum, Sluggish Trade in China, Slowdown in Global Demand Cautioned | MIRU (iru-miru.com)

 

 

July 18 New Rare Earth Discovery in China?

 

A team of Chinese experts agreed that "paleo-land-phase depositional rare earths" in the adjacent areas of Sichuan, Yunnan, and Guizhou provinces are a completely new rare earth deposit type.

 

Related article: NEW type of Rare Earth Resources Discovered in Guizhou Province, China, and Related Technologies Already Developed | MIRU (iru-miru.com)

 

 

July 16, 2010: China's Rare-Earth Giants Reduce Trading Prices for July-September Period

 

In July, Chinese rare-earth giants BAOTOU IRON & STEEL and China Northern Rare Earth Group reportedly issued a public notice announcing that they would together adjust the transaction price of rare-earth concentrates to RMB202,000 per ton after tax in the third quarter. The price will be significantly lower than the second quarter by 35%.

 

Related articles: China's State-Owned Northern Rare Earths to Cut Concentrate Trading Prices Significantly; No Optimism for Q3? | MIRU (iru-miru.com)

 

 

Japanese website is here

 

 

(IR Universe Kure, translated by S. Aoyama)

 

 

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