[SMM Rare Earth Morning Meeting Summary] Pr-Nd prices continue to rise, and the tightening supply of terbium and holmium drives medium-heavy rare earths to strengthen

SMM, July 9:

Rare Earth Ore

Prices: rare earth carbonate prices were approximately 61,900 yuan/mt, monazite ore prices were approximately 44,000 yuan/mt, and medium-yttrium, europium-rich ore prices were approximately 254,000 yuan/mt.

Supply and Demand: Currently, the overall circulation frequency of rare earth ore still remains poor, with the market trading in a stalemate. However, the rise in oxide prices has also caused the actual transaction prices of rare earth ore to be raised.

Rare Earth Oxides

Prices: Pr-Nd oxide prices continued to rise; terbium oxide prices continued to rise at a rapid pace.

Supply and Demand: Yesterday, market quotes for Pr-Nd oxide continued to be raised, with transactions following continuously, but the actual trading volume was limited. Some metal enterprises indicated that current metal order conditions were poor. On the medium-heavy rare earth side, the market supply of terbium oxide and holmium oxide tightened, causing their quotes to rise rapidly.

Rare Earth Metals

Prices: Pr-Nd alloy prices were slightly raised, with limited actual transactions. Dysprosium-iron alloy remained steady, while terbium metal prices continued to be raised.

Supply and Demand: Yesterday, Pr-Nd alloy prices were raised, driven by the upward adjustment of oxide market prices, along with a slight increase in market inquiry activity. Metal plants raised their quotes, but downstream purchasing attitudes remained cautious, resulting in limited actual transactions. On the medium-heavy rare earth side, inquiry activity in the terbium market increased, and with low-priced oxides hard to find, metal plants continued to raise their quotes, while dysprosium-iron prices remained relatively stable.

NdFeB Blanks

Prices: NdFeB blank NdFeB blank N35 (Ce) reported at 216-226 yuan/kg, NdFeB blank 35M reported at 261-271 yuan/kg, and NdFeB 35UH reported at 361-381 yuan/kg.

Supply and Demand: Yesterday, NdFeB blank quotes were slightly raised, mainly because the continuous upward adjustment of raw material prices drove up NdFeB prices. On the trading side, with the off-season approaching, terminal and downstream motor orders were average, and just-in-time restocking volumes were limited. This was transmitted to NdFeB producers, leading to limited order intake, with no large-volume orders emerging for the time being.

NdFeB Scrap

Prices: Pr-Nd recycled from NdFeB scrap prices continued to be raised, while dysprosium recycled from NdFeB scrap and terbium recycled from NdFeB scrap prices remained steady.

Supply and Demand: Yesterday, scrap market prices continued to be raised, influenced by the continuous upward adjustment of oxide quotes, with recycling enterprises raising their external purchase quotes accordingly. However, suppliers were relatively wait-and-see in their selling attitudes, and recycling enterprises maintained just-in-time procurement, resulting in limited actual transactions.