[SMM Rare Earth Morning Meeting Summary] Costs Support Prices, with Stalemate in Upstream and Downstream of Rare Earth Industry

Published: Jun 4, 2025 14:03

Save

[SMM Rare Earth Morning Meeting Summary: Costs Support Prices, with Stalemate between Upstream and Downstream of Rare Earth Industry] Yesterday, the overall trend of rare earth oxides was relatively stable, with a sluggish market trading atmosphere. Suppliers' quotations remained firm, but the willingness of downstream buyers to inquire was poor. Metal plants faced severe losses and were unwilling to pay high prices.

》View SMM Rare Earth Quotations, Data, and Market Analysis

》Order to View SMM Metal Spot Historical Price Trends

SMM June 4 News:

Rare Earth Ore

Prices: Rare earth carbonate prices were around 35,200 yuan/mt, monazite prices were approximately 41,500 yuan/mt, and medium-yttrium, europium-rich ore standard prices were about 189,000 yuan/mt.

Supply and Demand: Recently, rare earth ore suppliers were reluctant to sell due to low ore prices, resulting in a sluggish trading atmosphere in the rare earth ore market, making raw material procurement difficult for separation plants.

Rare Earth Oxides

Prices: Pr-Nd oxide quotation ranges were around 437,000-439,000 yuan/mt, mainstream dysprosium oxide quotations ranged from 1.62-1.64 million yuan/mt, and terbium oxide prices adjusted to approximately 7.16-7.2 million yuan/mt.

Supply and Demand: Yesterday, rare earth oxide trends remained generally stable, with a sluggish trading atmosphere. Suppliers maintained firm quotations, but downstream inquiry willingness was weak. Metal plants faced severe price inversions and were unwilling to accept high prices.

Rare Earth Metals

Prices: Mainstream Pr-Nd alloy quotation ranges were 535,000-540,000 yuan/mt, dysprosium-iron alloy prices were around 1.58-1.59 million yuan/mt, and terbium metal prices were approximately 8.8-8.9 million yuan/mt.

Supply and Demand: Yesterday, metal plants showed low initiative in offering, and market activity was subdued. With oxide prices still relatively high, suppliers held firm quotations, but downstream magnetic material enterprises had limited acceptance of high prices, resulting in poor market transactions.

NdFeB Blank

Prices: NdFeB blank N38 (Ce) settled at 142-152 yuan/kg; NdFeB blank 40M prices settled at 188-198 yuan/kg; NdFeB blank 40H prices settled at 192-202 yuan/kg; NdFeB blank 45SH (ce) prices settled at 242-262 yuan/kg.

Supply and Demand: Yesterday, after the Dragon Boat Festival, the magnetic material market remained quiet, with low activity in offers and inquiries. Affected by end-use demand, magnetic material enterprises had average order-taking and adopted a purchasing-as-needed strategy with minimal restocking.

NdFeB Scrap

Prices: Pr-Nd recycled from NdFeB scrap settled at 472-477 yuan/kg; dysprosium recycled from NdFeB scrap settled at 1,610-1,621 yuan/kg; terbium recycled from NdFeB scrap settled at 5,439-5,495 yuan/kg.

Supply and Demand: Yesterday, the scrap market remained quiet, with no significant price changes due to the influence of the oxide market. Affected by end-use demand, NdFeB scrap became scarce, making it difficult for scrap prices to decline significantly in the short term.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

May 1, 2026 07:00

India to build a six-month strategic stockpile of lithium, cobalt and rare earths as demand rises

Amid sustained demand growth, India plans to build a strategic reserve of critical minerals including lithium, cobalt, nickel, copper and rare earths. The stockpile will be sized to cover six months of domestic consumption, aiming to guard against risks of global supply disruptions and sharp raw material price volatility. Led by India’s Ministry of Mines and Ministry of Heavy Industries, the reserve covers key raw materials essential for new energy vehicles, energy storage and the electronics sector, fields where India currently relies heavily on imports. At present, the United States, China, South Korea and other countries have already established strategic reserve systems for critical minerals.

May 1, 2026 07:00

Apr 30, 2026 22:07

Brazil's Rare Earth Development: Strategic Transition from Reserves to Industrial Chain【SMM Analysis】

Apr 30, 2026 22:07

Apr 30, 2026 21:46

NdFeB Output Hits Yearly High in April, Yet Profit Recovery Hampered by Cost Inversion【SMM Analysis】

In April 2026, the output of NdFeB blanks reached 32,603 metric tons, representing a significant month-on-month increase of 8.73% and a year-on-year rise of 9%. The industry-wide average operating rate climbed to 76.37%, indicating an accelerated expansion. According to SMM's frontline research, production is expected to further increase to 34,097 tons in May, a month-on-month growth of approximately 5%. If this forecast materializes, it will mark the highest production level since January 2025.

Apr 30, 2026 21:46