en.Wedoany.com Reported - According to SMM news on April 20, influenced by tight supply of raw materials, the price of germanium has risen by over 27% in more than three months. Simultaneously, production halts at some separation plants have provided supply-side support for rare earths. Combined with low inventory levels and restocking demand from downstream enterprises, rare earth prices have continued their upward trend. Growth in terminal demand from sectors such as AI computing power, semiconductors, and robotics has also brought positive expectations for the minor metals sector. Coupled with market capital inflows, the sector has risen for three consecutive trading days. As of the close on April 20, the minor metals sector overall rose by 3%. Regarding individual stocks, Yunnan Chihong Zinc & Germanium Co., Ltd. and Western Superconducting Technologies Co., Ltd. hit the daily limit up. China Minmetals Rare Earth Co., Ltd., Yunnan Tin Co., Ltd., Ningxia Orient Tantalum Industry Co., Ltd., China Tungsten and High-tech Materials Co., Ltd., China Rare Earth, and China Northern Rare Earth (Group) High-Tech Co., Ltd. were among the top gainers.
In the spot market, praseodymium-neodymium oxide prices continued to strengthen over the past two trading days. On April 20, praseodymium-neodymium oxide was quoted at 800,000-805,000 yuan/ton, with an average price of 802,500 yuan/ton, up 0.94% from the previous trading day. Expectations of tight supply prompted upstream suppliers to hold firm on prices and be reluctant to sell, while downstream enterprises' low inventory levels and restocking demand supported the price increase. As the average price returned above 800,000 yuan/ton, market caution increased. Downstream magnet manufacturers have limited acceptance of high prices, leading to a decline in purchasing enthusiasm. In the short term, supported by upstream price support, praseodymium-neodymium product prices are expected to remain high.
Regarding germanium prices, on April 20, the SMM germanium ingot price was 15,000-19,500 yuan/kilogram, with an average price of 17,250 yuan/kilogram, unchanged from the previous trading day. This average price represents an increase of 3,750 yuan/kilogram from the low of 13,500 yuan/kilogram on January 14, a rise of 27.77% in just over three months.
Institutional analysis shows that the rise in rare earth praseodymium-neodymium prices is mainly driven by tightening supply and recovering demand. A Huafu Securities report pointed out that the market reflects tightening supply of rare earth raw materials, with some companies reducing or halting production, leading to continuously tightening quotations. From January to February 2026, China's rare earth exports accumulated to 10,468 tons, a year-on-year increase of 23%, with February exports at 4,407 tons, up 37% year-on-year. Strong exports have diverted spot resources, exacerbating supply-demand imbalances. The market is expected to fluctuate upward in the short term, but attention should be paid to resistance at high levels. A Guojin Securities report believes that the impact of previous liquidity factors is gradually being digested, prices are stabilizing, and combined with expectations of relaxed export policies, there is optimism about subsequent demand. A Dongguan Securities report stated that the growth rate of China's rare earth supply-side quotas is expected to slow, while demand-side sectors such as humanoid robots and the low-altitude economy will provide new growth points for rare earth demand, potentially optimizing the supply-demand logic.
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