The fundamental supply and demand situation has improved, and rare earth prices continue to rise.

The price of "industrial gold" continues to rise. According to data from Shanghai Steel Union, on July 24, the domestic price of praseodymium and neodymium oxide was 520,000 yuan/ton, an increase of 30.5% compared to the beginning of the year. In the A-share market, on July 24, the rare earth and rare earth permanent magnet sector saw gains, with Guangsheng Nonferrous and Zhongke Sanhuan hitting the daily limit, and Northern Rare Earth reaching the daily limit intraday. Industry insiders believe that the current hot rare earth market is the result of a resonance between supply and demand and expectations. There is still a large price difference between the domestic price of praseodymium and neodymium and the minimum commitment price set by the US Department of Defense for American rare earth companies MP. In addition, the improvement in the supply and demand situation of rare earths also provides support for the strong prices.