[SMM Rare Earth Morning Meeting Summary] Both supply and demand of rare earths are tight, with prices running smoothly

Published: Jun 5, 2025 09:06

Save

[SMM Rare Earth Morning Meeting Summary: Tight Supply and Demand for Rare Earths, Prices Stabilize] Yesterday, the prices of rare earth oxides generally remained stable. Given the difficulties in purchasing raw materials, separation plants showed low willingness to sell at low prices. With suppliers maintaining firm quotes, the price trend of oxides continued to stabilize.

》Check SMM's rare earth quotations, data, and market analysis

》Subscribe to view historical price trends of SMM's metal spot cargo

SMM News on June 5:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 35,500 yuan/mt, the price of monazite is around 41,500 yuan/mt, and the price of medium-yttrium, europium-rich ore (standard grade) is about 189,000 yuan/mt.

Supply and Demand: Recently, due to news factors from Southeast Asia, the imports of ion-adsorption ore may decrease, and suppliers are more reluctant to sell.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 437,000-439,000 yuan/mt, the mainstream quotation range for dysprosium oxide is 1.62-1.63 million yuan/mt, and the quotation for terbium oxide has been adjusted to around 7.15-7.2 million yuan/mt.

Supply and Demand: Yesterday, the prices of rare earth oxides remained generally stable. Given the difficulty in purchasing raw materials by separation plants, their willingness to sell at low prices was low. With suppliers holding firm quotations, the price trend of oxides continued to remain stable.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 535,000-537,000 yuan/mt, the quotation for dysprosium-iron alloy is approximately 1.58-1.59 million yuan/mt, and the quotation for terbium metal is around 8.8-8.9 million yuan/mt.

Supply and Demand: Yesterday, due to weak purchase willingness from downstream magnetic material enterprises at high prices and relatively high inventory levels at metal plants, some suppliers slightly reduced prices to sell. However, supported by raw material costs, the decline in metal prices was relatively small, and market trading activity was sluggish.

NdFeB Blanks

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

Supply and Demand: Yesterday, the activity in the magnetic material market was low. Due to unimproved end-use demand and cost constraints from high-priced metals, the order volume of magnetic material enterprises was average, and overall market trading was weak.

NdFeB Scrap

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

Supply and Demand: Yesterday, influenced by the market prices of oxides, the scrap market prices remained high, and inquiry activity increased somewhat, but actual trading volume was average. Some market participants were bullish in the short term and had low willingness to sell.

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

4 hours ago

South Korea to Exempt Tariffs on Overseas-Sourced Critical Minerals

On the 25th, it was confirmed that the South Korean government will exempt tariffs of 3–8% on critical minerals such as lithium, graphite, and rare earth elements when domestically owned companies directly produce and import them from overseas. The Ministry of Trade, Industry and Energy has pre-announced a new regulation outlining tariff exemptions for overseas resource development projects. Under the policy, a total of 14 critical minerals—including lithium, graphite, nickel, cobalt, manganese, copper, zinc, and rare earth elements such as lanthanum, cerium, neodymium, terbium, dysprosium, yttrium, and scandium—will be eligible for duty exemption when brought into the country. The regulation is set to take effect on April 3.

4 hours ago

6 hours ago

Rare Earth Prices Fluctuated Relatively Little, While Downstream Procurement Demand Remained Weak [SMM Rare Earth Weekly Review]

[SMM Rare Earth Weekly Review: Rare Earth Prices Saw Relatively Small Fluctuations, While Downstream Procurement Demand Remained Weak] The Pr-Nd oxide market was relatively calm this week. Demand from downstream metal plants was sluggish, but upstream supply also remained tight. Suppliers were unwilling to make shipments at low prices, and the back-and-forth negotiations between upstream and downstream remained in a stalemate. Pr-Nd oxide prices saw small fluctuations to 710,000-715,000 yuan/mt.

6 hours ago

7 hours ago

Energy Fuels Produces First Terbium Oxide in US, Boosting Domestic Rare Earth Supply Chain

US rare earth producer Energy Fuels announced that its White Mesa mill in Utah has successfully produced its first batch of terbium oxide with a purity of 99.9. This marks the first time in decades that the US has produced this heavy rare earth element from primary mineral raw materials, using monazite mined in Florida and Georgia. The company had previously trial-produced dysprosium oxide at the facility and is expected to expand heavy rare earth capacity in the coming years. It is estimated that upon completion of the second-phase expansion in 2029, the White Mesa mill will have the annual capacity to produce dysprosium oxide (288 mt), terbium oxide (80 mt), and Pr-Nd oxide (6,000 mt), supporting the development of a domestic rare earth supply chain in the US.

7 hours ago