Rare Earth Monthly Report
In July’s Issue
In June the rare earth market started receiving a lot of attention with the US/Sino trade war arguably at the heart of both the soaring prices and a flurry of corporate activity.
The two presidents have now agreed to come back to the table, but we do not expect an easy negotiation. China’s NDRC relaxed a number of restrictions for foreign investors across various sectors. However, we note that the restrictions around foreigners separating rare earths was purposefully left unaltered.
Meanwhile, the US Department of Defense has started seeking alternative sources of supply, having approached two African rare earth junior companies. Countries, in general, are set on reducing their reliance on China, with India even toying with the idea of opening their resources to private investors.
With respect to the end-users, Toyota has now revealed its EV rollout plan. By 2025, the company hopes to sell 1 million EV’s. While this bodes well for praseodymium, neodymium and the permanent magnet market in general, Toyota currently accounts for a major proportion of Japan’s cerium and lanthanum imports for use in their hybrid electric vehicles. While the company is still pushing their hybrids, if they slowly switch over to EV’s, it is expected to destabilize the lanthanum and to a lesser extent, the cerium markets, which are already in surplus.
Looking ahead, we expect that July and August will be slower months, characterised by fewer transactions as the US and Europe reduce production during the summer months. Permanent magnet prices have also declined slightly, which has negatively impacted neodymium, praseodymium, and Pr/Nd oxide prices, though we don’t expect the market will give back all its gains from June.
- Global Market Summary
- Rare Earth Prices
- Pricing Highlights
- Rare Earth Price Outlook
- Rare Earth Production and Trade
- China Highlights
- Global Highlights
- Trends in Rare Earth Applications
- Data and News Wrap
- Economic Analysis
- Export Analysis
- Rare Earth End-User Data
- Key Industry Players
- Company Highlights
- Share Price and Index
Each report is accompanied by an excel workbook detailing FOB rare earth metal and oxide prices and Chinese Domestic rare earth oxide, metal and permanent magnet prices
List of Tables
Table 1: Estimate of basket price for rare earth oxides
Table 2: Rare earth price forecast
Table 3: Economic Indicators.
Table 4: Chinese NdFeB magnet prices
List of Charts
Chart 1: Export vs domestics prices
Chart 2: Outlook for heavy rare earths
Chart 3: Outlook for light rare earths
Chart 4: Chinese permanent magnet exports
Chart 5: Average Chinese NdFeB magnet prices (N-range)
Chart 6: Average Chinese NdFeB magnet prices
**Whilst we make every effort to keep the chapters and data consistent, this data may vary from month to month based on availability and relevance.
Lara has been an analyst for over 13 years, starting her career as an equity analyst at Foord Asset Management. In 2009, Lara founded Core Consultants, an independent advisory and subscription firm focused on commodity markets. Read More
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