As the core raw material for NdFeB permanent magnet materials, light rare earths are a key strategic mineral supporting the development of new productivity tracks such as new energy vehicles, wind power, and industrial robots. Since mid-September, light rare earths have shown a pattern of praseodymium leading the way and the rest of the varieties trading sideways. According to SMM data, on September 22, praseodymium oxide rose 5,000 yuan/ton in a single day, while praseodymium metal rose 7,500 yuan/ton in a single day. Its price recovered slightly on September 23, but it is still at a recent high. Yang Jiawen, an analyst at SMM rare earth industry, said, “This round of price increases are mainly due to a decrease in low-price spot resources in the market, and strong prices from upstream smelters.”

As the core raw material for NdFeB permanent magnet materials, light rare earths are a key strategic mineral supporting the development of new productivity tracks such as new energy vehicles, wind power, and industrial robots. Since mid-September, light rare earths have shown a pattern of praseodymium leading the way and the rest of the varieties trading sideways. According to SMM data, on September 22, praseodymium oxide rose 5,000 yuan/ton in a single day, while praseodymium metal rose 7,500 yuan/ton in a single day. Its price recovered slightly on September 23, but it is still at a recent high. Yang Jiawen, an analyst at SMM rare earth industry, said, “This round of price increases are mainly due to a decrease in low-price spot resources in the market, and strong prices from upstream smelters.”