Rare Earth Prices in China Fluctuate Upwards Due to Increased Inquiry and Trading Activity
In the world of rare earth metals, today brought some positive news: prices are on the rise! Overall, prices continued to fluctuate upward, with separation plants quoting higher prices. This has made it a bit challenging to find low-priced goods in the market. The inquiry activity from downstream purchasing companies saw a significant increase, leading to a rise in actual trading volume compared to the previous period. As a result, rare earth transaction prices saw a significant increase from the previous working day.
With support from the cost side, metal plants also raised their quotes, although the actual procurement volume of magnetic material plants didn’t increase significantly. Despite this, the increase in metal prices was relatively small.
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In other related news, recent data shows a significant reduction in October imports of unlisted rare earth oxides, while Myanmar ore imports have yet to recover. Additionally, there’s a pessimistic outlook for enterprises in the market, and trading sentiment is currently sluggish.
It’s important to keep an eye on these fluctuations in the rare earth market as they have a significant impact on various industries. Stay informed, and if you have any questions, don’t hesitate to reach out.
