[SMM Rare Earth Morning Meeting Summary] The rare earth market is in the doldrums, and wait-and-see sentiment may persist

Published: Jun 18, 2025 09:05

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[SMM Rare Earth Morning Meeting Summary: Rare earth market in the doldrums, wait-and-see sentiment may persist] Prices of rare earth oxides are generally weak, and market transactions remain sluggish. According to market information, most separation plants are maintaining firm quotes, but some traders in the market are offering low-priced goods. Buyers are cautiously waiting and watching, and the trading atmosphere is poor.

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SMM News on June 18:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 35,700 yuan/mt, monazite is around 42,300 yuan/mt, and the standard price of medium-yttrium, europium-rich ore is about 189,500 yuan/mt.

Supply and Demand: Recently, suppliers at the ore end have maintained firm quotations under cost pressure. Low-priced ores are hard to find in the rare earth market, and separation plants have weak purchase willingness, leading to a stalemate in back-and-forth negotiations between upstream and downstream.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 439,000-441,000 yuan/mt, the mainstream quotation range for dysprosium oxide is 1.61-1.63 million yuan/mt, and the quotation range for terbium oxide is around 7.1-7.15 million yuan/mt.

Supply and Demand: Yesterday, the prices of rare earth oxides were generally weak, and market trading remained sluggish. According to market information, most separation plants maintained firm quotations, but some traders offered low-priced cargo, causing buyers to adopt a wait-and-see attitude, resulting in a poor trading atmosphere.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 542,000-545,000 yuan/mt, the quotation for dysprosium-iron alloy is approximately 1.57-1.58 million yuan/mt, and the quotation for terbium metal is around 8.8-8.9 million yuan/mt.

Supply and Demand: Yesterday, influenced by the price decline in the oxide market, the metal market quotations followed suit. Downstream magnetic material enterprises were active in inquiring about restocking at lower prices, but due to just-in-time restocking, the actual trading volume was relatively small.

NdFeB Blanks

Prices: NdFeB blank N38 (Ce) is quoted at 143-153 yuan/kg; NdFeB blank 40M is quoted at 189-199 yuan/kg; NdFeB blank 40H is quoted at 193-203 yuan/kg; NdFeB blank 45SH (Ce) is quoted at 243-263 yuan/kg.

Supply and Demand: Yesterday, the activity in the magnetic material trading market was average. Restricted by the fluctuating rangebound prices of upstream oxides and metals, the raw material costs of magnetic material enterprises tended to stabilize. In the absence of significant improvement in downstream orders, many magnetic material enterprises maintained a wait-and-see attitude, closely monitoring changes in terminal orders and upstream prices.

NdFeB Scrap

Prices: Pr-Nd recycled from NdFeB scrap is quoted at 477-483 yuan/kg; dysprosium recycled from NdFeB scrap is quoted at 1,610-1,621 yuan/kg; terbium recycled from NdFeB scrap is quoted at 5,439-5,495 yuan/kg.

Supply and Demand: Yesterday, influenced by the price adjustments in the oxide market, the scrap market prices declined somewhat, and overall market trading was average. Influenced by the price decline, a wait-and-see sentiment has emerged in the market again.

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.

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