As a leader in light rare earths, the listing price of Northern Rare Earths often has some guiding significance
On May 6, the Northern Rare Earth Group announced the listing price of rare earth products in May. The price of praseodymium oxide is 393,200 yuan/ton, the price of neodymium oxide is 401,500 yuan/ton, the price of praseodymium metal is 488,000 yuan/ton, and the price of metal neodymium is 498,000 yuan/ton, up 7.52%, 7.35%, 7.25%, and 7.1% respectively from April.
According to the business news agency, some prices in the domestic light rare earth market rose on May 7. The price of praseodymium metal praseodymium rose 505,000 yuan/ton, the price of praseodymium oxide rose 5,000 yuan/ton to 407,500 yuan/ton, the price of neodymium oxide rose 5,000 yuan/ton to 412,500 yuan/ton.
Domestic light rare earth prices have risen, and the downstream procurement situation is normal. Prices are expected to fluctuate mainly in the later stages.
Guojin Securities released a research report saying that as a leading light rare earth, the listing price of Northern Rare Earths often has some guiding significance. Overall, since the price of praseodymium oxide peaked in early 2022, the overall listing price of rare earths in the North has declined or remained flat, only rebounding from September to October 2023; this increase is the first time since November 2023, which is of great significance in boosting industry confidence.
Industrial chain enterprises related to rare earth permanent magnets:
Jinli Permanent Magnet (06680): Recently, it was stated at the performance briefing that in the first quarter of 2024, the company's newly built production capacity was gradually released, and the capacity utilization rate was over 90%. The Baotou Phase II 12,000 tons/year production capacity project, the Ningbo 3,000 tons/year high-end magnetic material and 100 million module production capacity project, and the Ganzhou high-efficiency and energy-saving motor magnetic material base project are under construction. It is expected that a 38,000 tons/year rough production capacity production line will be built by the end of 2024. It is planned to build a production capacity of 40,000 tons of high-performance rare earth permanent magnet materials and an advanced magnetic component production line by 2025. The company's senior management explained the reason for the decline in gross margin in the first quarter of 2024 during the meeting. Mainly due to a sharp drop in the price of rare earth raw materials in the first quarter of 2024.