According to the monitoring of the Business News Agency, the price index of the domestic rare earth market continued to decline, and the domestic light rare earth market declined. The rare earth index was 553 points on March 14, down 12 points from yesterday, down 45.08% from the highest point in the cycle (2022-02-24), and up 104.06% from the lowest point 271 on September 13, 2015. (Note: the period refers to 2011-12-01 to now).

The price trend of domestic metal praseodymium, neodymium oxide, metal praseodymium, praseodymium oxide, praseodymium neodymium alloy and praseodymium neodymium oxide has dropped sharply. The price of metal praseodymium neodymium was 675000 yuan/ton as of the 15th day, down 10.60% from the 8th day; The price of praseodymium and neodymium oxide was 562500 yuan/ton, down 10% from the price on the 8th; The price of neodymium oxide was 615000 yuan/ton, down 6.11% from the price on the 8th; The price of neodymium metal was 755000 yuan/ton, down 7.36% from the price on the 8th; The price of praseodymium metal was 775000 yuan/ton, down 5.49% from the price trend on the 8th; The price of praseodymium oxide was 580000 yuan/ton, and the price trend fell by 8.66%.

In the near future, the demand of rare earth market is difficult to improve. The order situation of downstream magnetic material enterprises has remained low. Most of the magnetic material factories mainly consume the existing inventory. The demand for praseodymium and neodymium metal continues to be cold and the cost of raw materials is still hanging upside down. The product inventory of metal factories in the rare earth market continues to rise. Some metal factories have almost no transactions. Downstream procurement is very cautious, and the prices of the holders continue to decline. In the near future, the downstream procurement is cold, and the production enterprises are gradually resuming work, and the negative factors are superimposed, and the domestic light rare earth market price is significantly lower.

According to the statistics, the demand for new energy vehicles has been guaranteed. According to the data released by the China Association of Automobile Industry, the production and sales of automobiles nationwide in February reached 2032000 and 1.976 million respectively, with a year-on-year increase of 27.5% and 19.8%, and a year-on-year increase of 11.9% and 13.5%. In February, the national production and sales of new energy vehicles reached 552000 and 525000 respectively, up 30% and 28.7% month-on-month, 48.8% and 55.9% year-on-year, and the market share reached 26.6%. Although the production and sales volume of new energy vehicles has increased, the procurement of permanent magnets in the downstream is very rare, and the market price of light rare earth has dropped sharply.

Recently, the rare earth downstream businesses have weak procurement and poor demand. In addition to the increase in upstream supply, the contradiction between supply and demand is acute, and the transaction situation is poor. In the short term, the decline of the rare earth market is difficult to change. In the long term, the new energy vehicles, wind power, and variable frequency air conditioning in the downstream of the rare earth industry are sustainable development. The demand in the new energy field is still guaranteed, and there is room for recovery in the rare earth industry.