Rare earth prices have likely bottomed out and could be poised for a rebound in the second half of 2024 on the back of strong demand by the electric vehicle and wind power sectors, Shanghai Metals Market analyst Yang Jiawen has told Reuters. Rare earth prices surged to record highs in 2022 before pulling back sharply in 2023 largely due to increased supply from China and slower-than-expected demand growth.
For instance, the price of praseodymium oxide, one of the most widely used rare earth elements, in China tumbled 34% in 2023,…This Year Could See a Significant Rebound in Rare Earths Metals Prices
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