[SMM Rare Earth Morning Meeting Summary] Pr-Nd series early this week in a stalemate and wait-and-see, medium-heavy rare earth continue to be raised, magnetic materials outside China have increased inquiries but limited orders placed.

SMM August 25 News:

Rare Earth Ore:

Prices:Medium-yttrium, europium-rich ore prices were around 245,500 yuan/mt, chlorinated rare earth flake prices were around 63,500 yuan/mt, and rare earth carbonate prices were around 58,900 yuan/mt.

Supply and Demand:Currently, the overall circulation frequency of rare earth ore remains poor, with market transactions in a stalemate. The weak oxide prices have also led to a downward shift in the actual transaction prices of rare earth ore.

Rare Earth Oxides:

Prices:Pr-Nd oxide market prices were relatively stable at the beginning of the week; prices of dysprosium oxide and terbium oxide were further raised.

Supply and Demand:Yesterday, the rare earth oxide market was sluggish in trading, with suppliers showing low enthusiasm for quotations, and downstream purchase willingness not significantly increased. Pr-Nd oxide prices temporarily stagnated at current levels. For medium-heavy rare earths, quotations for dysprosium oxide and terbium oxide saw further small increases, with slightly improved inquiry activity in the market, and low-price supply was hard to find.

Rare Earth Metals:

Prices:Pr-Nd alloy prices moved steadily, with few market inquiries, while dysprosium-iron alloy and terbium metal prices continued to rise.

Supply and Demand:Yesterday, Pr-Nd alloy prices moved steadily, mainly due to sluggish market inquiries, with metal enterprises making no significant adjustments to quotations, resulting in overall firm prices but weak actual transactions. In the medium-heavy rare earth market, prices of dysprosium-iron alloy and terbium metal continued to rise as low-price supply of oxides kept tightening.

NdFeB Blanks:

Prices:NdFeB blank N40 (Ce) closed at 216-226 yuan/kg, NdFeB blank 40M closed at 257-267 yuan/kg, and NdFeB 40UH closed at 361-381 yuan/kg.

Supply and Demand:Yesterday, NdFeB blank quotations remained stable for now, primarily because stable raw material prices kept NdFeB quotations steady. In terms of transactions, in the last week of August, most downstream motor factories and end-users gradually resumed operations, with an increase in the frequency of export order inquiries, but actual order volumes were limited, leading to average overall market trading volume.

NdFeB Scrap:

Prices:Pr-Nd recycled from NdFeB scrap prices moved steadily, while dysprosium recycled from NdFeB scrap and terbium recycled from NdFeB scrap prices remained stable.

Supply and Demand:Yesterday, the scrap market prices moved steadily, mainly due to small fluctuations in oxide prices. Recycling enterprises made no significant adjustments to their external purchase quotations, while scrap suppliers adopted a wait-and-see attitude toward willingness to sell. The circulation of compliant tax-included scrap in the market did not increase significantly, and overall trading was sluggish.