[SMM Rare Earth Morning Meeting Summary] Pr-Nd oxide quotes are temporarily stable, trading sluggish; dysprosium oxide active and rising, low-price supplies tightening; magnetic material orders average.

SMM, August 19:

Rare Earth Ore:

Prices: Rare earth carbonate prices stood at around 58,400 yuan/mt, medium-yttrium, europium-rich ore at about 243,000 yuan/mt, and rare earth chloride flake at roughly 63,300 yuan/mt.

Supply and Demand: Currently, overall circulation frequency of rare earth ores remains sluggish, with market trading in a stalemate. Weaker oxide prices have also dragged down the transaction price center for rare earth ores.

Rare Earth Oxides:

Prices: Inquiries and offers for Pr-Nd oxide were not active; dysprosium oxide prices edged up, while terbium oxide prices remained stable for now.

Supply and Demand: Yesterday, quoted prices for Pr-Nd oxide held steady, with few low-price sellers. Purchase willingness from metal producers stayed relatively low, and market trading was sluggish. In the medium-heavy rare earth segment, buying inquiries and procurement for dysprosium oxide were relatively active, driving prices upward. Low-priced supplies tightened quickly, while the terbium oxide market remained stable.

Rare Earth Metals:

Prices: Pr-Nd alloy prices fluctuated only slightly, with trading sentiment still sluggish. Dysprosium-iron alloy prices rose, while terbium metal prices were flat.

Supply and Demand: Yesterday, Pr-Nd alloy prices saw small fluctuations, mainly due to limited downstream inquiries. Metal producers stood firm on offers, and overall prices showed no significant movement, but market trading remained sluggish. In the medium-heavy rare earth market, dysprosium-iron alloy suppliers raised offers, supported by higher dysprosium oxide prices, while terbium metal prices held steady.

NdFeB Blanks:

Prices: NdFeB blank N38 (Ce) was quoted at 209-219 yuan/kg, NdFeB blank 38M at 247-267 yuan/kg, and NdFeB blank 38UH at 354-374 yuan/kg.

Supply and Demand: Yesterday, NdFeB blank offers remained largely stable, primarily because raw material prices held steady. In terms of transactions, due to weather impacts in China in August, some permanent magnet motor plants suspended production for maintenance, lowering operating rates. Traditional industrial motor plants resumed production, but the recovery volume was limited, so the overall downstream market showed no notable improvement, leading to average orders for magnetic material producers.

NdFeB Scrap:

Prices: Pr-Nd recycled from NdFeB scrap stayed stable, as did dysprosium and terbium recycled from NdFeB scrap.

Supply and Demand: Yesterday, scrap prices saw no significant adjustments, mainly due to limited fluctuations in oxide prices. Recycling enterprises kept their external purchase offer prices unchanged, but scrap suppliers were relatively cautious in selling. The circulation of compliant, tax-included scrap in the market remained limited, resulting in average overall trading performance.