Rare Earth Industry Annual Report 2024
2025-02-20 10:14:01 【Print】
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Contents
1 Definition, Type, Distribution, Application 5
1.1 Definition 5
1.2 Type 5
1.2.1 Bastnaesite-Monazite Mixed Ore 5
1.2.2 Bastnaesite Ore 5
1.2.3 Ionic Rare Earth Ore 5
1.2.4 Monazite Ore 5
1.3 Distribution 5
1.3.1 Global rare earth mine production and reserves 5
1.3.2 Chinese rare earth mine reserves 5
1.3.3 Chinese rare earth producers' distribution 6
1.4 Applications 7
1.5 Chinese Rare Earth Policy 7
1.5.1 Production quotas 7
1.5.2 Resource tax 8
1.5.3 New rare earth mines exploration 8
1.5.4 National stockpile 8
1.5.5 Tariff 8
1.5.6 Export rebates 8
2 Economy and Policy 8
2.1 China to adjust import & export tariffs on some goods from Jan 1 8
2.2 China releases 2023 Catalogue of Goods Subject to Export License Administration 9
2.3 World Bank lowers global economic growth forecast to 1.7% for 2023 9
2.4 CPCA: China's new energy passenger car retail sales up by 90% YoY in 2022 9
2.5 China to launch new round of domestic strategic minerals prospecting 9
2.6 GACC: China's total foreign trade value exceeds RMB40 trillion for first time 9
2.6 STA: NEV purchase tax of more than RMB80 billion exempted in 2022 9
2.7 GACC: China's exports of rare earth down by 0.4% YoY in 2022 9
2.8 MIIT: China strives to double manufacturing robot density by 2025 over 2020 9
2.9 IMF raises forecast for global economic growth in 2024 to 2.9% 9
2.10 MIIT to take measures to ensure supply and stabilize price of key NEV raw materials 9
2.11 CPCA: China's new energy passenger car retail sales decrease by 6.3% YoY in Jan 9
2.12 MEE: Nearly 60% of rectification plan for second round of central environmental supervision completed 9
2.13 China again extends tariff exemptions on some U.S. imported products 10
2.14 China issues Action Plan for Development of Intelligent Detection Equipment Industry (2023-2025) 10
2.15 GACC: China's foreign trade sector begins with steady performance in first two months of 2024 10
2.16 MIIT: Strive to stabilize mass consumption of automobiles and consumer electronics 10
2.17 World Bank raises China's economic growth forecast to 5.1% 10
2.18 WTO raises global trade growth forecast for 2023 10
2.19 Ministry of Commerce: China's outward non-financial direct investment up by 26.6% YOY in Jan-Apr 10
2.20 China H1 foreign trade exceeds 20 trillion yuan for first time 10
2.21 China further extends tariff waivers on some U.S. imported products 11
2.22 China's Ministry of Commerce adds rare earth to export report directory 11
3. Market Movements 11
3.1 Domestic Market 11
3.1.1 PrNd oxide 99%min EXW China 11
3.1.2 PrNd mischmetal 99%min Nd2O3 75% EXW China 12
3.1.3 Neodymium oxide 99.5%min EXW China 13
3.1.4 Neodymium metal 99%min EXW China 14
3.1.5 Praseodymium 99.5%min EXW China 14
3.1.6 Dysprosium oxide 99.5%min EXW China 15
3.1.7 Ferrodysprosium 80% EXW China 16
3.1.8 Terbium oxide 99.99%min EXW China 17
3.1.9 Terbium metal 99.9%min EXW China 18
3.1.10 Chinese cerium oxide market 19
3.1.11 Chinese lanthanum oxide market 20
3.1.12 Europium oxide 99.999%min EXW China 21
3.1.13 Yttrium oxide 99.999%min EXW China 21
3.2 Export Market 22
3.2.1 Neodymium metal 99%min FOB China 22
3.2.2 Ferrodysprosium 80% FOB China 23
3.2.3 Lanthanum oxide 99.9%min FOB China 24
3.3 International Market 25
3.3.1 European cerium oxide market 25
3.3.2 European praseodymium oxide market 26
4 Company News 27
4.1 Domestic Market 27
4.1.1 China Rare Earth Group becomes actual controller of Rising Nonferrous Metal 27
4.1.2 China Northern Rare Earth announces Q1 rare earth concentrate price 27
4.1.3 Hengyuan Technology's NdFeB waste recycling project gets EIA approval 27
4.1.4 Zhejiang Zhongyuan to increase NdFeB magnet output 27
4.1.5 Baotou Weiming halts samarium metal production 27
4.1.6 Northern Rare Earth receives 16.8% increase in first mining quota in 2024 27
4.1.7 China Rare Earth Group launches three projects in Ganzhou 27
4.1.8 Chijin Xiawu to acquire 90% stake in Laos-based rare earth mining company 27
4.1.9 Jiangxi Xinrui to build 3ktpa rare earth oxides project 27
4.1.10 Northern Rare Earth announces capital increase to advance subsidiary's green smelting project 27
4.1.11 JL MAG's annual permanent magnetic materials sales up by 25.6% 27
4.1.12 Rising Nonferrous reports 61.41% rise in annual rare earth ore production 27
4.1.13 Guangxi Maoxin's scandium oxide output increases 28
4.1.14 ZHmag reports increased annual NdFeB production and sales 28
4.1.15 Northern Rare Earth's annual RE raw materials output hits new high 28
4.1.16 Bao Gang United Steel reports annual production and sales results 28
4.1.17 Northern Rare Earth to purchase 320000t of rare earth concentrate from Bao Gang United Steel in 2024 28
4.1.18 Shenghe Resources sees increased annual RE metals production and sales 28
4.1.19 Zhongke Magnetic reports decline in annual NdFeB production 28
4.1.20 China Rare Earth reports higher annual RE ores production and sales 28
4.1.15 Longnan Heli Rare Earth suspends production 28
4.1.16 Baotou Huaxing to build 8.2ktpa rare earth metals project 28
4.1.17 Baotou Jinmeng to build 5ktpa rare earth metals project 28
4.1.18 Chenguang Rare Earths to acquire heavy mineral sands projects in Tanzania 28
4.1.19 Wolong kicks off construction of permanent magnet motor project in Baotou 28
4.1.20 Jinhui Permanent Magnet inks deal for NdFeB project in Jinxian 29
4.1.21 Shanxi implements new regulations for mineral resources management 29
4.1.22 CRRC Zhuzhou permanent magnet motor project comes on stream 29
4.1.23 Northern Rare Earth to increase stake in Zhongxin Antai 29
4.1.24 5ktpa high-purity rare earth metals project gets approved in Baotou 29
4.1.25 Northern Rare Earth Q1 production reaches all-time high 29
4.1.26 Aide Rare Earth Refractory begins trial production at LaCe new materials project 29
4.1.27 Baogang declares mineral wastes 'not for sale' from Bayan Obo mine 29
4.1.35 Golden Dragon Rare Earth to build NdFeB magnets plant in Baotou 29
4.1.36 Baotou Huaxing begins production at 8ktpa rare earth metals project 29
4.1.37 Huahong Technology to build 10ktpa rare earth magnets project 29
4.1.38 JL MAG H1 rare earth magnets output and sales up more than 40% 29
4.1.39 Baotou Huahong breaks ground on rare earth magnets project 29
4.1.40 Hengyuan Techonology halts NdFeB waste recycling due to environmental violations 29
4.1.41 NAMCO commissions new factory for exhaust gas catalysts 30
4.1.42 China Rare Earth Group increases reserves by nearly 5 million tonnes 30
4.1.43 Zhongxi Jinlong to build 10ktpa rare earth production line in Changting 30
4.1.44 Jinmeng Sagami breaks ground on NdFeB magnet modules project 30
4.1.45 Bao Gang United Steel adjusts Q4 rare earth concentrate price 30
4.1.46 Northern Rare Earth to set JV for 3ktpa NdFeB magnets project 30
4.1.47 Northern Rare Earth sees stronger sales results for Q1-Q3 30
4.1.48 Shenghe Resources reports higher RE metals production and sales in Q1-Q3 30
4.1.48 Guangsheng Mining develops silicon and rare earth supply chain project 30
4.1.49 Hainan Mining to acquire Zr-Ti mining claims in Mozambique 30
4.1.50 Baotou Shengyou expects to expand PrNd mischmetal production 30
4.1.51 Northern Rare Earth to set up JV for rare earth oxide separation project 30
4.2 International Market 30
4.2.1 Lynas to increase PrNd products production capacity 30
4.2.2 Sisecam Genel Merkezi reduces erbium oxide consumption 31
4.2.3 Rama Ferro Alloys & Finance's LaCe mischmetal consumption to slide 31
4.2.4 Canada Rare Earth to increase rare earth concentrate supply volume 31
4.2.5 Lynas to increase neodymium oxide production 31
4.2.6 US Pigment reduces praseodymium oxide consumption 31
4.2.7 Araxa Metals to start PrNd oxide production in 2025 31
4.2.8 Aclara Resources plans to produce rare earth oxides in Chile from 2027 31
4.2.9 ADL Mining to increase monazite output 31
4.2.10 Aclara Resources plans to set up rare earth separation plant in U.S. 31
4.2.11 Aclara Resources plans to set up rare earth separation plant in U.S. 31
4.2.12 ADL Mining to halt monazite production 31
5. Producers Statistics 31
5.1 China's PrNd oxide production statistics 31
5.1.1 China's PrNd oxide producers' total number 31
5.1.3 China's PrNd oxide producers' average operating rate 32
5.1.4 China's PrNd oxide producers' output 32
5.1.4 China's PrNd oxide producers' stocks 33
5.2 China's PrNd mischmetal production statistics 33
5.2.1 China's PrNd mischmetal producers' total number 33
5.2.1 China's PrNd mischmetal production capacity 34
5.2.2 China's PrNd mischmetal producers' operating rate 34
5.2.3 China's PrNd mischmetal producers' output 35
5.2.4 China's PrNd mischmetal producers' inventory 35
5.3 China's dysprosium oxide production statistics 36
5.3.1 China's dysprosium oxide producers' total number capacity 36
5.3.2 China's dysprosium oxide producers' production capacity 36
5.3.3 China's dysprosium oxide producers' operating rate 37
5.3.4 China's dysprosium oxide producers' output 37
5.3.4 China's dysprosium oxide producers' inventory 37
5.4 China's ferrodysprosium production statistics 38
5.4.1 China's ferrodysprosium producers' total number 38
5.4.2 China's ferrodysprosium producers' production capacity 38
5.4.2 China's ferrodysprosium producers' operating rate 39
5.4.3 China's ferrodysprosium producers' output 39
5.4.4 China's ferrodysprosium producers' inventory 40
5.5 China's neodymium metal production statistics 40
5.5.1 China's neodymium metal producers' total number 40
5.5.2 China's neodymium metal producers' capacity 40
5.5.3 China's neodymium metal producers' operating rate 41
5.5.3 China's neodymium metal producers' output 41
5.5.4 China's neodymium metal producers' inventory 41
6. Customs Statistics 42
6.1 Summary of rare earth export statistics in 2024 42
6.2 China's neodymium oxide export volume 42
6.3 China's dysprosium oxide export volume 43
6.4 China's terbium oxide export volume 44
6.5 China's lanthanum oxide export volume 44
6.6 China's cerium oxide export volume 45
6.7 China's yttrium oxide export volume 46
7 Supply and Demand Outlook 46
7.1 Domestic Market 46
7.1.1 PrNd oxide 99%min EXW China 46
7.1.2 PrNd mischmetal 99%min Nd2O3 75% EXW China 46
7.1.3 Neodymium oxide 99.5%min EXW China 46
7.1.4 Neodymium metal 99%min EXW China 47
7.1.5 Praseodymium 99.5%min EXW China 47
7.1.6 Dysprosium oxide 99.5%min EXW China 47
7.1.7 Ferrodysprosium 80% EXW China 47
7.1.8 Terbium oxide 99.99%min EXW China 47
7.1.9 Terbium metal 99.9%min EXW China 47
7.1.10 Chinese cerium oxide market 47
7.1.11 Chinese lanthanum oxide market 47
7.1.12 Europium oxide 99.999%min EXW China 47
7.1.13 Yttrium oxide 99.999%min EXW China 47
8.2 Export Market 47
8.2.1 Neodymium metal 99%min FOB China 47
8.2.2 Ferrodysprosium 80% FOB China 47
8.2.3 Lanthanum oxide 99.9%min FOB China 47
8.3 International Market 47
8.3.1 European cerium oxide market 47
8.3.2 European praseodymium oxide market 47
1 Definition, Type, Distribution, Application 5
1.1 Definition 5
1.2 Type 5
1.2.1 Bastnaesite-Monazite Mixed Ore 5
1.2.2 Bastnaesite Ore 5
1.2.3 Ionic Rare Earth Ore 5
1.2.4 Monazite Ore 5
1.3 Distribution 5
1.3.1 Global rare earth mine production and reserves 5
1.3.2 Chinese rare earth mine reserves 5
1.3.3 Chinese rare earth producers' distribution 6
1.4 Applications 7
1.5 Chinese Rare Earth Policy 7
1.5.1 Production quotas 7
1.5.2 Resource tax 8
1.5.3 New rare earth mines exploration 8
1.5.4 National stockpile 8
1.5.5 Tariff 8
1.5.6 Export rebates 8
2 Economy and Policy 8
2.1 China to adjust import & export tariffs on some goods from Jan 1 8
2.2 China releases 2023 Catalogue of Goods Subject to Export License Administration 9
2.3 World Bank lowers global economic growth forecast to 1.7% for 2023 9
2.4 CPCA: China's new energy passenger car retail sales up by 90% YoY in 2022 9
2.5 China to launch new round of domestic strategic minerals prospecting 9
2.6 GACC: China's total foreign trade value exceeds RMB40 trillion for first time 9
2.6 STA: NEV purchase tax of more than RMB80 billion exempted in 2022 9
2.7 GACC: China's exports of rare earth down by 0.4% YoY in 2022 9
2.8 MIIT: China strives to double manufacturing robot density by 2025 over 2020 9
2.9 IMF raises forecast for global economic growth in 2024 to 2.9% 9
2.10 MIIT to take measures to ensure supply and stabilize price of key NEV raw materials 9
2.11 CPCA: China's new energy passenger car retail sales decrease by 6.3% YoY in Jan 9
2.12 MEE: Nearly 60% of rectification plan for second round of central environmental supervision completed 9
2.13 China again extends tariff exemptions on some U.S. imported products 10
2.14 China issues Action Plan for Development of Intelligent Detection Equipment Industry (2023-2025) 10
2.15 GACC: China's foreign trade sector begins with steady performance in first two months of 2024 10
2.16 MIIT: Strive to stabilize mass consumption of automobiles and consumer electronics 10
2.17 World Bank raises China's economic growth forecast to 5.1% 10
2.18 WTO raises global trade growth forecast for 2023 10
2.19 Ministry of Commerce: China's outward non-financial direct investment up by 26.6% YOY in Jan-Apr 10
2.20 China H1 foreign trade exceeds 20 trillion yuan for first time 10
2.21 China further extends tariff waivers on some U.S. imported products 11
2.22 China's Ministry of Commerce adds rare earth to export report directory 11
3. Market Movements 11
3.1 Domestic Market 11
3.1.1 PrNd oxide 99%min EXW China 11
3.1.2 PrNd mischmetal 99%min Nd2O3 75% EXW China 12
3.1.3 Neodymium oxide 99.5%min EXW China 13
3.1.4 Neodymium metal 99%min EXW China 14
3.1.5 Praseodymium 99.5%min EXW China 14
3.1.6 Dysprosium oxide 99.5%min EXW China 15
3.1.7 Ferrodysprosium 80% EXW China 16
3.1.8 Terbium oxide 99.99%min EXW China 17
3.1.9 Terbium metal 99.9%min EXW China 18
3.1.10 Chinese cerium oxide market 19
3.1.11 Chinese lanthanum oxide market 20
3.1.12 Europium oxide 99.999%min EXW China 21
3.1.13 Yttrium oxide 99.999%min EXW China 21
3.2 Export Market 22
3.2.1 Neodymium metal 99%min FOB China 22
3.2.2 Ferrodysprosium 80% FOB China 23
3.2.3 Lanthanum oxide 99.9%min FOB China 24
3.3 International Market 25
3.3.1 European cerium oxide market 25
3.3.2 European praseodymium oxide market 26
4 Company News 27
4.1 Domestic Market 27
4.1.1 China Rare Earth Group becomes actual controller of Rising Nonferrous Metal 27
4.1.2 China Northern Rare Earth announces Q1 rare earth concentrate price 27
4.1.3 Hengyuan Technology's NdFeB waste recycling project gets EIA approval 27
4.1.4 Zhejiang Zhongyuan to increase NdFeB magnet output 27
4.1.5 Baotou Weiming halts samarium metal production 27
4.1.6 Northern Rare Earth receives 16.8% increase in first mining quota in 2024 27
4.1.7 China Rare Earth Group launches three projects in Ganzhou 27
4.1.8 Chijin Xiawu to acquire 90% stake in Laos-based rare earth mining company 27
4.1.9 Jiangxi Xinrui to build 3ktpa rare earth oxides project 27
4.1.10 Northern Rare Earth announces capital increase to advance subsidiary's green smelting project 27
4.1.11 JL MAG's annual permanent magnetic materials sales up by 25.6% 27
4.1.12 Rising Nonferrous reports 61.41% rise in annual rare earth ore production 27
4.1.13 Guangxi Maoxin's scandium oxide output increases 28
4.1.14 ZHmag reports increased annual NdFeB production and sales 28
4.1.15 Northern Rare Earth's annual RE raw materials output hits new high 28
4.1.16 Bao Gang United Steel reports annual production and sales results 28
4.1.17 Northern Rare Earth to purchase 320000t of rare earth concentrate from Bao Gang United Steel in 2024 28
4.1.18 Shenghe Resources sees increased annual RE metals production and sales 28
4.1.19 Zhongke Magnetic reports decline in annual NdFeB production 28
4.1.20 China Rare Earth reports higher annual RE ores production and sales 28
4.1.15 Longnan Heli Rare Earth suspends production 28
4.1.16 Baotou Huaxing to build 8.2ktpa rare earth metals project 28
4.1.17 Baotou Jinmeng to build 5ktpa rare earth metals project 28
4.1.18 Chenguang Rare Earths to acquire heavy mineral sands projects in Tanzania 28
4.1.19 Wolong kicks off construction of permanent magnet motor project in Baotou 28
4.1.20 Jinhui Permanent Magnet inks deal for NdFeB project in Jinxian 29
4.1.21 Shanxi implements new regulations for mineral resources management 29
4.1.22 CRRC Zhuzhou permanent magnet motor project comes on stream 29
4.1.23 Northern Rare Earth to increase stake in Zhongxin Antai 29
4.1.24 5ktpa high-purity rare earth metals project gets approved in Baotou 29
4.1.25 Northern Rare Earth Q1 production reaches all-time high 29
4.1.26 Aide Rare Earth Refractory begins trial production at LaCe new materials project 29
4.1.27 Baogang declares mineral wastes 'not for sale' from Bayan Obo mine 29
4.1.35 Golden Dragon Rare Earth to build NdFeB magnets plant in Baotou 29
4.1.36 Baotou Huaxing begins production at 8ktpa rare earth metals project 29
4.1.37 Huahong Technology to build 10ktpa rare earth magnets project 29
4.1.38 JL MAG H1 rare earth magnets output and sales up more than 40% 29
4.1.39 Baotou Huahong breaks ground on rare earth magnets project 29
4.1.40 Hengyuan Techonology halts NdFeB waste recycling due to environmental violations 29
4.1.41 NAMCO commissions new factory for exhaust gas catalysts 30
4.1.42 China Rare Earth Group increases reserves by nearly 5 million tonnes 30
4.1.43 Zhongxi Jinlong to build 10ktpa rare earth production line in Changting 30
4.1.44 Jinmeng Sagami breaks ground on NdFeB magnet modules project 30
4.1.45 Bao Gang United Steel adjusts Q4 rare earth concentrate price 30
4.1.46 Northern Rare Earth to set JV for 3ktpa NdFeB magnets project 30
4.1.47 Northern Rare Earth sees stronger sales results for Q1-Q3 30
4.1.48 Shenghe Resources reports higher RE metals production and sales in Q1-Q3 30
4.1.48 Guangsheng Mining develops silicon and rare earth supply chain project 30
4.1.49 Hainan Mining to acquire Zr-Ti mining claims in Mozambique 30
4.1.50 Baotou Shengyou expects to expand PrNd mischmetal production 30
4.1.51 Northern Rare Earth to set up JV for rare earth oxide separation project 30
4.2 International Market 30
4.2.1 Lynas to increase PrNd products production capacity 30
4.2.2 Sisecam Genel Merkezi reduces erbium oxide consumption 31
4.2.3 Rama Ferro Alloys & Finance's LaCe mischmetal consumption to slide 31
4.2.4 Canada Rare Earth to increase rare earth concentrate supply volume 31
4.2.5 Lynas to increase neodymium oxide production 31
4.2.6 US Pigment reduces praseodymium oxide consumption 31
4.2.7 Araxa Metals to start PrNd oxide production in 2025 31
4.2.8 Aclara Resources plans to produce rare earth oxides in Chile from 2027 31
4.2.9 ADL Mining to increase monazite output 31
4.2.10 Aclara Resources plans to set up rare earth separation plant in U.S. 31
4.2.11 Aclara Resources plans to set up rare earth separation plant in U.S. 31
4.2.12 ADL Mining to halt monazite production 31
5. Producers Statistics 31
5.1 China's PrNd oxide production statistics 31
5.1.1 China's PrNd oxide producers' total number 31
5.1.3 China's PrNd oxide producers' average operating rate 32
5.1.4 China's PrNd oxide producers' output 32
5.1.4 China's PrNd oxide producers' stocks 33
5.2 China's PrNd mischmetal production statistics 33
5.2.1 China's PrNd mischmetal producers' total number 33
5.2.1 China's PrNd mischmetal production capacity 34
5.2.2 China's PrNd mischmetal producers' operating rate 34
5.2.3 China's PrNd mischmetal producers' output 35
5.2.4 China's PrNd mischmetal producers' inventory 35
5.3 China's dysprosium oxide production statistics 36
5.3.1 China's dysprosium oxide producers' total number capacity 36
5.3.2 China's dysprosium oxide producers' production capacity 36
5.3.3 China's dysprosium oxide producers' operating rate 37
5.3.4 China's dysprosium oxide producers' output 37
5.3.4 China's dysprosium oxide producers' inventory 37
5.4 China's ferrodysprosium production statistics 38
5.4.1 China's ferrodysprosium producers' total number 38
5.4.2 China's ferrodysprosium producers' production capacity 38
5.4.2 China's ferrodysprosium producers' operating rate 39
5.4.3 China's ferrodysprosium producers' output 39
5.4.4 China's ferrodysprosium producers' inventory 40
5.5 China's neodymium metal production statistics 40
5.5.1 China's neodymium metal producers' total number 40
5.5.2 China's neodymium metal producers' capacity 40
5.5.3 China's neodymium metal producers' operating rate 41
5.5.3 China's neodymium metal producers' output 41
5.5.4 China's neodymium metal producers' inventory 41
6. Customs Statistics 42
6.1 Summary of rare earth export statistics in 2024 42
6.2 China's neodymium oxide export volume 42
6.3 China's dysprosium oxide export volume 43
6.4 China's terbium oxide export volume 44
6.5 China's lanthanum oxide export volume 44
6.6 China's cerium oxide export volume 45
6.7 China's yttrium oxide export volume 46
7 Supply and Demand Outlook 46
7.1 Domestic Market 46
7.1.1 PrNd oxide 99%min EXW China 46
7.1.2 PrNd mischmetal 99%min Nd2O3 75% EXW China 46
7.1.3 Neodymium oxide 99.5%min EXW China 46
7.1.4 Neodymium metal 99%min EXW China 47
7.1.5 Praseodymium 99.5%min EXW China 47
7.1.6 Dysprosium oxide 99.5%min EXW China 47
7.1.7 Ferrodysprosium 80% EXW China 47
7.1.8 Terbium oxide 99.99%min EXW China 47
7.1.9 Terbium metal 99.9%min EXW China 47
7.1.10 Chinese cerium oxide market 47
7.1.11 Chinese lanthanum oxide market 47
7.1.12 Europium oxide 99.999%min EXW China 47
7.1.13 Yttrium oxide 99.999%min EXW China 47
8.2 Export Market 47
8.2.1 Neodymium metal 99%min FOB China 47
8.2.2 Ferrodysprosium 80% FOB China 47
8.2.3 Lanthanum oxide 99.9%min FOB China 47
8.3 International Market 47
8.3.1 European cerium oxide market 47
8.3.2 European praseodymium oxide market 47
