According to the monitoring of the business community, the price index of the domestic rare earth market fell slightly, and the domestic rare earth market was weak. On November 10, the rare earth index was 629 points, down 4 points from yesterday, down 37.54% from the peak of 1007 points (2022-02-24) in the cycle, and up 132.10% from the lowest point of 271 points on September 13, 2015. (Note: the cycle refers to the period from December 1, 2011 to the present).

The prices of domestic metal praseodymium, neodymium oxide, praseodymium oxide, praseodymium neodymium alloy and praseodymium neodymium oxide have declined to varying degrees. As of October 10, the price of praseodymium and neodymium metal was 790000 yuan/ton, down 5.39% from the middle of October; The price of praseodymium neodymium oxide is 650000 yuan/ton, with a monthly price drop of 5.45%; The price of neodymium oxide was 720000 yuan/ton, down 6.49%; The price of neodymium metal was 905,000 yuan/ton, down 3.75%; The price of praseodymium metal is 905000 yuan/ton, with a monthly decline of 9.95%; The price of praseodymium oxide was 675000 yuan/ton, down 10.60%.

The circulation of light rare earths in China has decreased, the inventory of enterprises has been overstocked, and the downstream inquiry list is cold. The purchase is poor. The market of light rare earths has declined. The supply of light rare earths is mainly concentrated in Inner Mongolia. Due to the limited transportation in Baotou and other regions, the manufacturer’s shipment is limited. At present, there is no specific notice on the release date. The production of enterprises is relatively normal, but the shipment is difficult, and the spot supply has decreased. Recently, the inventory of downstream businesses still exists, and some manufacturers mainly digest the inventory. The purchasing mood is not good, resulting in the scarcity of orders, the difficulty of dealers in shipping, and the decline of rare earth market.

The price of dysprosium series heavy rare earth in China fell back. As of October 10, the price of dysprosium oxide was 2.275 million yuan/ton, down 2.57% from the middle of October; The price of dysprosium ferroalloy was 2.265 million yuan/ton, down 2.37%; The price of dysprosium metal was 2.95 million yuan/ton, down 2.16%; The price trend of domestic terbium series is declining. The price of domestic terbium oxide is 13.25 million yuan/ton, and the price of metal terbium is 16.55 million yuan/ton. The price of heavy rare earth mainly declined. The raw material inventory of the separation enterprises in the regions where rare earth mines are used in Sichuan and other places decreased. The production enterprises gradually started to work. The supply of heavy rare earth increased. The dealers with goods were eager to ship, and the transaction price fell. However, Myanmar’s exports are limited, and the global supply of rare earths is relatively concentrated. Myanmar is one of the production areas next to China and the United States. Myanmar has a great impact on the domestic heavy rare earth market products, and the price decline of heavy rare earth market is limited.

According to statistics, the demand for new energy vehicles is guaranteed. According to the data released by the China Association of Automobile Manufacturers, the production and sales of automobiles in China will reach 2.599 million and 2.505 million respectively in October 2022, up 11.1% and 6.9% year on year. Among them, the production and sales of new energy vehicles reached 762000 and 714000 respectively, with year-on-year growth of 87.6% and 81.7%, and the market share reached 28.5%. The automobile production and sales volume rose, the demand in the new energy field was still supported, and the domestic demand for rare earths was still supported.

The sustainable development of new energy vehicles, wind power and variable frequency air conditioners in the downstream of rare earths. Due to repeated epidemics in some regions, limited downstream procurement, and poor orders from magnetic material manufacturers, downstream businesses mainly digest inventory. Chen Ling, an analyst of the business community, expects that the rare earth market will continue to decline in the short term. In the long run, the demand for rare earths is still guaranteed, and there is no lack of potential for recovery.