The fundamentals of supply and demand have improved, and rare earth prices continue to rise.

According to data from Shanghai Steel Union, on July 24th, the domestic price of praseodymium-neodymium oxide was 520,000 yuan per ton, up 30.5% from the beginning of the year. In the A-share market, the rare earth and rare earth permanent magnet sectors rose on July 24th, with Guangcheng Nonferrous Metals and Zhongke Sanhuan hitting the daily limit up, and Northern Rare Earth reaching the daily limit intraday. Industry insiders believe that the current hot rare earth market is the result of resonance between supply and demand and expectations. The domestic praseodymium-neodymium price still has a large price difference compared to the minimum commitment price set by the US Department of Defense for American rare earth company MP. Additionally, the improvement in supply and demand for rare earths also provides support for price strengthening.