[SMM Rare Earth Morning Meeting Summary] Pr-Nd series continues to recover but transactions cool down nearing the weekend, medium-heavy rare earth holds up well, magnetic materials follow up with limited growth.

SMM August 24 News:

Rare Earth Ore:

Prices:Medium-yttrium, europium-rich ore prices were approximately 245,500 yuan/mt, chlorinated rare earth flake prices were approximately 63,500 yuan/mt, and monazite prices were approximately 43,000 yuan/mt.

Supply and Demand:Currently, the overall circulation frequency of rare earth ore remained poor, market transactions were stagnant, and weak oxide prices caused the actual transaction prices of rare earth ore to shift downward.

Rare Earth Oxide:

Prices:Pr-Nd oxide market prices continued to rebound; dysprosium oxide and terbium oxide prices also further increased.

Supply and Demand:Last week, Pr-Nd oxide market quotations further rebounded, but toward the weekend, downstream inquiry and procurement activity declined, with actual trading volumes relatively low. In the medium-heavy rare earth sector, driven by large enterprise procurement, dysprosium oxide prices held up well, low-priced supply quickly tightened, and terbium oxide market quotations also edged up.

Rare Earth Metal:

Prices:Pr-Nd alloy prices continued to increase, but actual transaction follow-through was poor; dysprosium-iron alloy and terbium metal prices increased.

Supply and Demand:Last week, Pr-Nd alloy prices continued to rise, mainly driven by oxide price increases. Metal enterprises raised quotations, but downstream inquiry activity declined, and actual market transaction follow-through was poor. In the medium-heavy rare earth market, due to tightening low-priced oxide supply, dysprosium-iron alloy and terbium metal prices edged up.

NdFeB Blank:

Prices:NdFeB blank N38 (Ce) closed at 211-221 yuan/kg, NdFeB blank 38M closed at 249-269 yuan/kg, and NdFeB blank 38UH closed at 356-376 yuan/kg.

Supply and Demand:Last week, NdFeB blank quotations edged up, primarily due to raw material price increases driving NdFeB quotation increases. In terms of trading, during mid-August, high temperatures and heavy rain in many regions led to shutdowns and maintenance at downstream permanent magnet motor plants, with operating rates declining. Although a small number of industrial motor plants completed maintenance and markets outside China ended their summer break, leading to operating rate increases and higher orders, the increase was limited. The overall market showed some recovery but without significant improvement. Transmitted to the magnetic material side, orders edged up but with limited growth.

NdFeB Scrap:

Prices:Pr-Nd recycled from NdFeB scrap prices edged up, while dysprosium recycled from NdFeB scrap and terbium recycled from NdFeB scrap prices held steady.

Supply and Demand:Last week, scrap market prices edged up, mainly influenced by the continued increase in oxide prices. Recycling enterprises raised external purchase quotations, and some scrap suppliers' willingness to sell strengthened, but most suppliers remained wait-and-see. The circulation volume of compliant, taxed scrap in the market did not increase significantly, and overall transaction performance was average.