In August 2024, domestic production of Pr-Nd oxide and Pr-Nd alloy increased slightly MoM. The main increase in Pr-Nd oxide production was seen in Guangxi and Fujian, while the main increase in Pr-Nd alloy production was in Gansu and Inner Mongolia.
According to the SMM survey, the operating rate of downstream magnetic material companies has increased, and as the peak season approaches, the willingness of buyers to stock up has also strengthened. Driven by downstream demand, upstream production has also correspondingly increased. However, due to relatively tight supply at the mining end, the increase in oxide production was not significant.
The increase in demand led to a noticeable rise in inquiries and purchases in the Pr-Nd market. Additionally, as the peak season approaches, holders are optimistic and reluctant to sell. With the effect of the peak season, low-priced Pr-Nd sources have quickly tightened. Consequently, Pr-Nd prices have risen rapidly in recent times, and in the short term, the prices are expected to continue fluctuating upward.
