In November 2020, due to the increase of market demand for rare earth metals, the orders of downstream enterprises increased, and the shortage of raw material supply capacity and the reduction of manufacturers' inventory, the relationship between supply and demand changed, which caused the price of rare earth metal materials to soar. In particular, the price of praseodymium and neodymium metal for manufacturing rare earth permanent magnets rose rapidly from 370000 to 530000 tons.
