In October 2024, the domestic production of Pr-Nd oxide and Pr-Nd alloy both saw a slight reduction MoM. The main increase in Pr-Nd oxide production was in Jiangxi, while the main decrease in Pr-Nd alloy production was in Guangxi and Inner Mongolia.
According to the SMM survey, the rare earth market in October showed a significant decline compared to September. Some separation plants correspondingly reduced their production, and the operating rate of a few metal plants slightly decreased compared to September, but the overall reduction was not significant. Statistics show that the production of Pr-Nd oxide in October decreased by less than 2% MoM, and the production of Pr-Nd alloy in October decreased by only 0.6% MoM.
While the supply slightly decreased, the downstream demand saw a significant decline in October. The so-called "October peak season" totally fell short. Under the condition of weak supply and demand, it is expected that the rare earth market will operate stably in the future.
