Rhenium Price Trend and Forecast

Rhenium Regional Price Overview

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

Rhenium Price Trend for the Second Half of 2023

Rhenium prices were mostly found to be oscillating at the lower levels during the said period of the second half of the year 2023. Prices of rare earth elements were found to be sinking lowest in July’23 since the year 2020. This depreciation in the market performance was primarily attributed to the weakening global economic sentiment across the globe that shook the customer and suppliers’ confidence.
 

Rhenium Price Chart

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By the mid-year the Chinese rare metals exports were reported to decline by about 17% year on year. To stabilize the situation, China decided to withhold its exports temporarily around the end of the final quarter. However, rhenium’s market performance was usually dull during the said period.

Analyst Insight

According to Procurement Resource, the Rhenium price trends will take time to stabilize going forward as the end consumer offtakes and market sentiments will likely take some time to improve.
 

Rhenium Price Trend for the First Half of 2023

Rhenium is a rare earth metal renowned for its high resistance to heat and abnormally high melting point and thus is used widely in industries that require high-temperature applications. It is also an important component in the generation of superalloys that are used in jet engine manufacturing of electrical filaments, X-ray tubes, and thermocouples, which require high stability and reliability.

The prices of Rhenium suffered from the fall in the rates of imports in China as amid the weak demand for the metals; the region tried to protect its domestic prices. The automotive and alloys sector also faced severe disruptions and an uneven trend in its sales number that affected the overall demand and procurement rates in the Asian markets, causing a downfall in the Rhenium price trend.

Further, the rising mining initiatives raised the supply of rare earth elements that strengthened the supply chains in the US region while the demand for Rhenium continued to follow the trend observed in the Asian countries. The influx of a high number of imports also increased the competitiveness of the market, hampering the price trend of Rhenium.

Analyst Insight

According to Procurement Resource, the price of Rhenium is expected to fall as the demand from the downstream sectors is plunging, while due to the uptake of new mining initiatives, the supply has surpassed the demand.

Procurement Resource provides latest prices of Rhenium. 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.