Praseodymium Oxide Price Trend and Forecast

Praseodymium Oxide Regional Price Overview

Get the latest insights on price movement and trend analysis of Praseodymium Oxide in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Praseodymium Oxide Price Trend for the First Half of 2024

In the first half of 2024, praseodymium oxide prices experienced significant fluctuations due to shifts in market sentiment and demand. In early May, a surge in optimism in the Chinese market led to a brief price increase, driven by expectations of strong consumer demand for rare earth oxides, with state-owned China Northern setting high prices in anticipation. Praseodymium oxide prices rose modestly by 0.6% during this period.
 

Praseodymium Oxide Price Chart

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However, as orders failed to meet expectations and the market remained well-supplied, prices began to decline again in the latter half of the said period. The overall trend reflected the broader challenges faced by the rare earths market, where demand did not increase fast enough to sustain the price recovery, keeping prices below levels that would benefit Western producers and limiting further price gains for praseodymium oxide.

Analyst Insight

According to Procurement Resource, the Praseodymium Oxide prices are likely to stabilize slightly in the coming months; however, much improvement is unlikely.
 

Praseodymium Oxide Price Trend for the Second Half of 2023

Praseodymium oxide prices were observed to be dwindling for most of the said period of H2’23. Praseodymium oxide is primarily used by the nanodevices and microelectronic industries for manufacturing semiconductors and energy storage purposes. So, the demands from these sectors influence the market’s performance to a great extent.

China is the biggest supplier of these rare earth metals in the global markets, so, the price trend is greatly determined by its performance in the Chinese market. In December 2023, the Praseodymium oxide in the Chinese market exhibited a month-on-month decrease of about 8% and a year-on-year decrease of around 31%. Stacked inventory volumes amidst dull demands pushed the price trend downwards. Overall, muted market sentiments were witnessed.

Analyst Insight

According to Procurement Resource, Praseodymium prices are expected to plummet further going forward as the inventories will continue to dominate the dwindling demands.
 

Praseodymium Oxide Price Trend for the First Half of 2023

Praseodymium is a light rare earth metal primarily used alongside Neodymium Oxide for deep cleaning, glass manufacturing, ceramics, high magnetic materials, chemical catalysts, nanodevices, and microelectronics. China is the biggest producer and supplier of such rare earth metal oxides.

During the first half of the year 2023, the price trend for Praseodymium Oxide observed fluctuating patterns, which finally turned negative/southwards at the end of the second quarter. Praseodymium Oxide, though found naturally in mineral form along with Neodymium oxide, can also be produced from Nitrates or Hydroxides of Praseodymium. Overall, the Praseodymium Oxide market remained anchored throughout the said period.

Analyst Insight

According to Procurement Resource, after declining in the last quarter of H1, the Praseodymium Oxide prices are expected to stabilize in the upcoming months.

Procurement Resource provides latest prices of Praseodymium Oxide. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.