Rare earth market update on March 20, 2025
The domestic rare earth market has generally maintained stable operation. On one hand, downstream users show low buying interest, and market demand lacks momentum; on the other hand, the positive supporting factors from earlier periods are gradually fading. Under the combined influence of these two factors, many suppliers lack confidence in raising prices, and the number of new orders remains limited. Today, the prices of praseodymium-neodymium oxide, terbium oxide, and erbium oxide have dropped by approximately 1,000 yuan/ton, 30 yuan/kg, and 2,000 yuan/ton, respectively. According to Zhongwu Online, the earlier positive factors included: first, the strong support from rare earth production costs; second, obstacles in China's rare earth ore imports, which altered the domestic market supply pattern; and third, the rapid development of emerging industries, which has continuously increased the demand for rare earths.
Data from the National Bureau of Statistics shows that from January to February 2024, among the 623 industrial products produced by enterprises above a designated scale, 378 products saw year-on-year output growth. Among them, steel production reached 224.09 million tons, up 4.7%; the output of ten non-ferrous metals was 12.94 million tons, up 1.4%; automobile production totaled 4.454 million units, up 13.9%, including 1.817 million new energy vehicles, up 47.7%; power generation amounted to 1.4921 trillion kilowatt-hours, down 1.3%; and crude oil processing reached 119.17 million tons, up 2.1%.
Price of rare earth products on March 20, 2025
Erbium oxide picture
