Global rare earths short-term outlook October 2024 Report

Commodity Market Report 31 October 2024

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Report summary

Rare earth prices saw a short-lived increase starting in mid-July but lost traction in October due to weak downstream demand, leading to a slight decline before stabilising. This stabilisation was partly supported by conflict in Myanmar, which improved market sentiment. With the approaching holiday season, downstream procurement from the rest of the world (RoW) may slow, adding short-term pressure on prices. However, ongoing uncertainty in Myanmar could limit feedstock exports to China, possibly driving rare earth prices higher. Prices are anticipated to rise again as economic conditions improve.