Commodity Market Report
Global rare earths short-term outlook May 2024
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Report summary
Downstream demand from rare earth metal, alloy and magnet manufacturers in China remains flat, with no signs of bottoming out in the short term. Downstream buyers were inclined to operate from their inventories instead of purchasing from the spot market. Wood Mackenzie expects the overall market sentiment to improve in the fourth quarter of 2024, with an improved downstream magnet demand as the key driver.
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