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Rare earths market Update 2024#2 down, neodymium at half of previous year's level due to a lull in EV demand.

The overall rare-earth market was falling in mid- to late-January 2023. Rare earths for magnets continue to fall amid a global lull in demand for batteries for electric vehicles (EVs). Trading tends to slow down for the Chinese New Year vacation in late February, and China's rare earth prices have not stopped falling.
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