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Home >> News >>Company News >> The export control law will take effect soon, and the price of some rare earths will rise by 136,000 yuan/ton
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The export control law will take effect soon, and the price of some rare earths will rise by 136,000 yuan/ton

/ kg, the average price is rmb6,175 / kg, a new high in nearly 8 years.


Among the main light rare earth products, the price of praseodymium increased by 136,000 yuan/ton and the average price was reported at 555,000 yuan/ton, which reached a new high in nearly three years. The recovery of demand in the downstream market of China and the recovery of overseas demand are the main reasons for the continuous rise of the rare earth price in this round.


Rare earth can be widely used in automobiles, electronic equipment and other fields. Take automobile as an example. According to data from China Association of Automobile Manufacturers, in October 2020, The output of new energy vehicles in China was 165,000, with a year-on-year increase of 94.1%, and the output of automobiles was 2.481 million, with a year-on-year increase of 8.8%.


As the demand of various terminal application industries continues to pick up and the epidemic is under control, the upstream rare earth prices will also meet the outbreak. On the other hand, the rise in rare earth prices is related to the market's expectation of a possible decrease in rare earth supply.


Since this year, China's exports fell sharply, exports fell by nearly 7 July, disclosed according to the latest official figures show that China's rare earth exports are still falling in October, or 37%, as set by the export-control laws on December 1st, China's rare earth export supply or will reduce further.


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