https://www.engineeringnews.co.za

China’s rare-earth prices spike as power crisis impacts supplies

29th October 2021

By: Bloomberg

  

Font size: - +

Rare-earth prices are spiking in China, with the grades used to make permanent magnets surging to their highest level in over a decade amid supply tightness.

Prices of praseodymium-neodymium oxide, or NdPr -- two of the 17 rare earth elements that are used in NdFeB magnets -- spiked to 735 000 yuan ($115 000) a metric ton as of Thursday, the highest since November 2011, according to data from Shanghai Steelhome E-Commerce. Prices have almost doubled this year.

A domestic shortage of rare earths is looming as China, which accounts for 70% of global production, uses quotas to preserve the strategic material used in everything from phones to computers to new-energy vehicles. The nation’s power shortage has also exacerbated supply disruptions, while surging commodity prices are increasing production costs.

Still, the price surge has deterred some demand, with magnets producers hesitating to make purchases, researcher Mysteel said in a note.

Edited by Bloomberg

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.049 1.247s - 140pq - 2rq
Subscribe Now