Rare earth market update on February 17, 2025
At the beginning of the week, domestic rare earth prices showed mixed trends, with some categories remaining stable while others experienced slight declines. Notably, the price of terbium oxide decreased by approximately 10 yuan/kg, and the price of holmium oxide dropped by around 2,000 yuan/ton. This downward adjustment was primarily driven by weak downstream demand, as end-users showed limited willingness to accept high-priced materials, coupled with suppliers' constrained ability to raise prices. According to China Tungsten Online, the market trading atmosphere remained subdued, with low transaction volumes, as raw material suppliers were reluctant to reduce prices while buyers maintained a cautious approach, focusing mainly on essential purchases.
Meanwhile, data from the Baotou Industry and Information Technology Bureau revealed positive growth trends in key industrial sectors in 2024. The added value of Baotou's mining industry increased by 7.9% year-on-year, while the manufacturing sector saw a significant rise of 18.0%. Additionally, the production and supply of electricity, heat, gas, and water grew by 2.3%. Among the 32 major industries, 19 sectors continued to expand, achieving a growth rate of 59.4%. Notably, the non-metallic mineral products industry recorded a robust increase of 25.6% in added value, and the non-ferrous metal smelting and rolling processing industry grew by 16.3%. These figures highlight the resilience and growth potential of Baotou's industrial economy despite the challenges in the rare earth market.
Prices of rare earth products on February 17, 2025
Erbium oxide image
