01
Summary of rare earth spot market
Compared with the previous two years, the market has gotten rid of the curse of falling prices after the New Year this year, and the increase is more obvious. In just three days, the price of praseodymium-neodymium oxide has increased by nearly 10,000 yuan/ton, and praseodymium-neodymium metal has also increased accordingly, with an increase of more than 10,000 yuan/ton. Dysprosium oxide and terbium oxide have also increased to varying degrees. According to market feedback, the spot market for praseodymium-neodymium oxide is relatively tight after the New Year, which has pushed up the price of praseodymium-neodymium metal. In addition to the fact that some separation companies have pre-sold their production capacity before the Spring Festival, another important reason for the tight supply of oxides is that the China-Myanmar border is still closed, resulting in limited raw materials for many domestic separation plants. According to data from the General Administration of Customs in November and December 2024, Myanmar exported a total of 1,220.749 tons and 725.638 tons of unlisted rare earth oxides and unlisted rare earth metals and their mixtures to China in November and December, respectively, down 80.97% and 91.2% from 2023. In 2024, the domestic import volume from Myanmar will decrease by 38.44% year-on-year compared with 2023. In terms of medium and heavy rare earths, Dysprosium oxide and terbium oxide also increased to varying degrees. The increase in dysprosium oxide exceeded 10,000 yuan/ton, and the increase in terbium oxide exceeded 40,000 yuan/ton. At present, the enthusiasm for inquiries has increased, and the market supply has begun to tighten. In terms of lanthanum-cerium products, cerium oxide continued to be in a relatively tight spot state before the New Year. There were fewer low-priced sources, and the quotations were all above 8,000 yuan/ton. Due to the tight supply of low-priced oxides, the price of metal cerium has risen. Waste separation companies have moderate purchasing intentions, and the signing prices of mainstream companies have risen slightly, but purchasing has become more difficult. Overall, the market is optimistic about prices in the short term, and orders from terminal NdFeB companies are also sufficient, and orders from large factories can basically be maintained until the end of February. However, uncertainties still exist, such as the first batch of rare earth mining, smelting and separation total control indicators for 2025 and the rare earth-related policies that may be released. Judging from the current market supply and demand relationship, compared with the ideal fundamentals at the beginning of 2024, we hope that this market trend can continue.
02
Industry News
1. Trump hopes to reach an agreement with Ukraine on Ukrainian rare earth minerals in exchange for U.S. financial support. Chile's "Three O'Clock" reported on February 4 that Trump said he hopes to reach an agreement with Ukraine to obtain Ukrainian rare earth minerals in exchange for Ukrainian financial support. He complained that Europe's financial support for Ukraine is not as good as that of the United States, and has repeatedly criticized the burden of aid to Ukraine. He had previously promised to end the Russian-Ukrainian conflict on the first day of his inauguration, and this time he also said that relevant negotiations have made progress. In this regard, Kremlin spokesman Peskov said that Trump's remarks are to let Ukraine "buy aid", but the U.S. aid to Ukraine is still continuing. The Russian side has doubts about the meaning of Trump's statement to end the war as soon as possible, and believes that the United States will help end the conflict only if it stops any military aid to Ukraine. Rare earths can be used to make magnets for electric vehicles, mobile phones and other devices. Ukraine has a large number of uranium, lithium and titanium deposits.
2. Myanmar Kachin State Rare Earth Mining Seminar On January 31, the Regional Center for Social Sciences and Sustainable Development (RCSD) and the Shanan Foundation cooperated to hold a public seminar at the Faculty of Social Sciences of Chiang Mai University to share research on rare earth mining in Maigayang, Kachin State, southern Myanmar. "We studied the governance of rare earth mining and found that the government did not adequately address the concerns of local people. Therefore, we put forward some recommendations for relevant stakeholders to improve the governance of rare earth mining," said Chu Ta-Wei, assistant professor of the Department of Social Sciences and Development at Chiang Mai University. "We provided our findings to different stakeholders in Kachin State, who expressed their concerns and experiences with rare earth mining. We hope to raise awareness and encourage the international community to pay attention to rare earth mining in Kachin State," he added.
3. China North Rare Earth was rated as the first batch of "Excellent Smart Factory" Recently, the Ministry of Industry and Information Technology announced the "Excellent Smart Factory (First Batch) Project List", and China North Rare Earth (600111) was on the list. In recent years, China North Rare Earth has actively promoted the deep integration of digital intelligence and enterprise management, taking the smelting branch (Huamei Company) as a pilot, and overall deployed unified full-business information applications, starting from production management, assets and equipment, engineering projects, product traceability, etc., to lay the foundation for digital demonstration and lead the industry's "high-end, intelligent, and green" transformation and upgrading at full speed. At the same time, in the field of rare earth raw material manufacturing, digital technology is introduced into the entire process, all key processes are realized with automated production control, and excellent cases and implementation experience are promoted to multiple subsidiaries to promote resource sharing and technological collaboration within the group.
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Post time: Feb-08-2025