The price index of rare earth rebounded by more than 21.7% from the low in June, and the price of some rare earth varieties rose by more than 30% in July.
On Wednesday, the concept of rare earth permanent magnet continued to strengthen. Baotou Iron and Steel Co., Ltd. closed the trading limit in the early morning, and Northern rare earth group Co., Ltd. stood on the trading limit in the afternoon. The share price reached a record high, with the total market value exceeding 140 billion yuan. Minmetals rare earth, Shenghe resources, Xiamen tungsten industry, earth bear, Jinli permanent magnet, etc. kept rising.
Since July, the rare earth permanent magnet sector has been concerned by funds, and the index has increased by more than 17% this month. The leading rare earth companies in North China, Minmetals rare earth and Baotou Steel have increased by more than 90%, 70% and 50% respectively in July.
Price of rare earth rises rapidly
Exports soared nearly 50% in June
Since the end of June, the price of rare earth has rebounded rapidly.
According to the data of Rare Earth Industry Association, the price index of rare earth hit 201.1 on June 28, and then rebounded rapidly. On June 21, the price index of rare earth reached 244.8, rebounding more than 21.7% compared with the low point.
In this round of rapid rise in rare earth prices, all products have increased to varying degrees, among which light rare earth continued to rise, and the market improved. According to Baichuan information, the quoted price of praseodymium oxide and neodymium oxide reached 598500 yuan / ton on July 21, which was higher than the high price of 591500 yuan / ton in March this year and more than 28% higher than the low price in June. Although praseodymium and neodymium did not break through the high in March this year, the price of praseodymium and neodymium also rebounded by more than 28% in July. Holmium oxide and gadolinium oxide have increased by more than 30% since July, while neodymium oxide and terbium oxide have increased by more than 20%.