After a significant rise in the earlier period, domestic rare-earth prices have recently begun to decline. According to data released by the China Rare Earth Industry Association, on March 28, the rare-earth price index stood at 386.0 points, down 3.64% from last week’s 400.6 points on a weekly basis. Looking at the monthly trend, the rare-earth price index has shown a marked decline since March; currently, the index is 10.07% lower than its level on March 1, which was 429.2 points.

　　Looking at individual varieties, the previously booming rare-earth permanent-magnet sector has seen a significant price decline. According to prices of major rare-earth products released by the China Rare Earth Industry Association on March 28, prices for praseodymium-neodymium-based products have dropped sharply. Specifically, praseodymium oxide is quoted at 998 yuan/kg (the highest reference price, the same below), down 9.27% from the beginning of the month; neodymium oxide is quoted at 1058 yuan/kg, down 13.29% from the beginning of the month; and metallic neodymium is quoted at 1340 yuan/kg, down 9.46% from the beginning of the month. Among mixed rare-earth products, praseodymium-neodymium oxide is quoted at 1000 yuan/kg, down 9.91% from the beginning of the month; and praseodymium-neodymium mixed metal is quoted at 1220 yuan/kg, down 11.14% from the beginning of the month.

　　Previously, the rare-earth price index rose from 254.1 points on October 8, 2021, to 429.2 points on March 1, 2022, representing a cumulative increase of 68.91% over the period. In early March, the Rare Earth Office of the Raw Materials Industry Department under the Ministry of Industry and Information Technology held talks with key enterprises regarding the pricing of rare-earth products. According to a statement posted on the MIIT’s website, the authorities urged relevant companies to ensure the security and stability of their industrial and supply chains, strengthen self-discipline within the industry, and refrain from engaging in market speculation or hoarding. At the same time, the authorities called for the establishment of a more robust pricing mechanism for rare-earth products, jointly guiding product prices back to rational levels and promoting the sustained, healthy development of the rare-earth industry. (Economic Reference News)