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Core Asset Rare Earth Elements Market - 1st Quarter Review
Amzeal News/10522231
We see demand in this sector remaining high in the short term due to limited supply and high demand. The market prices are expected to mostly stay within the anticipated projections for the second quarter of 2023.
SEOUL, South Korea - Amzeal -- Production & Consumption of REE
The Q1 production of neodymium oxide was at 16,843 mt, an increase of 3.89% from the previous quarter. The main increase was contributed by Jiangxi and Sichuan regions in China. Overall, the increase in neodymium is limited, mainly due to tight supply of raw materials. Enterprises relying on imports mainly consumed old stocks. Meanwhile, some enterprises were under great financial pressure and had to temporarily stop their production all together.
Q1 saw approx 4,500 mt of rare earth permanent magnets consumed, an increase of 142% over the same period last year. In the carbon neutrality era, the wind power field is developing rapidly and January to February, the consumption of magnets in China's wind turbine industry went up 61.01%.
More on Amzeal News
China's rare earth exports
China is currently the world's largest producer of rare earth permanent magnet products. In recent years, China's output has basically remained at more than 90% of the global total. China's rare earth permanent magnet products exports rose 18.61% year-on-year to 8,500 mt.
New supply chains for Europe
Outside of China North America and particularly Canada have large reserves of Rare Earth Elements. This is an area of great interest for investors as Europe looks to reduce its reliance on China for REE. These supply chains no doubt will become prominent players in the future in order to meet Europe's ever increasing demand for REE.
The rapid development of new energy vehicles, wind power, industrial robots, and other sectors has led to a rise in the demand for rare earths. Rare earths are now seen as a global strategic resource, and the increasing demand is set to drive up prices.
For more information on any of the topics mentioned in this article please visit us at www.acg-wealth.com
The Q1 production of neodymium oxide was at 16,843 mt, an increase of 3.89% from the previous quarter. The main increase was contributed by Jiangxi and Sichuan regions in China. Overall, the increase in neodymium is limited, mainly due to tight supply of raw materials. Enterprises relying on imports mainly consumed old stocks. Meanwhile, some enterprises were under great financial pressure and had to temporarily stop their production all together.
Q1 saw approx 4,500 mt of rare earth permanent magnets consumed, an increase of 142% over the same period last year. In the carbon neutrality era, the wind power field is developing rapidly and January to February, the consumption of magnets in China's wind turbine industry went up 61.01%.
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China's rare earth exports
China is currently the world's largest producer of rare earth permanent magnet products. In recent years, China's output has basically remained at more than 90% of the global total. China's rare earth permanent magnet products exports rose 18.61% year-on-year to 8,500 mt.
New supply chains for Europe
Outside of China North America and particularly Canada have large reserves of Rare Earth Elements. This is an area of great interest for investors as Europe looks to reduce its reliance on China for REE. These supply chains no doubt will become prominent players in the future in order to meet Europe's ever increasing demand for REE.
The rapid development of new energy vehicles, wind power, industrial robots, and other sectors has led to a rise in the demand for rare earths. Rare earths are now seen as a global strategic resource, and the increasing demand is set to drive up prices.
For more information on any of the topics mentioned in this article please visit us at www.acg-wealth.com
Source: Core Asset Wealth Management
Filed Under: Investment
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