SMM, October 14:
Rare earth ore:
Prices: Rare earth carbonate prices were about 60,200 yuan/mt, chlorinated rare earth flake prices were about 63,500 yuan/mt, and monazite was about 43,000 yuan/mt.
Supply and demand: The ore market consolidated overall, separation plants continued restocking raw materials on an as-needed basis, inventory digestion remained slow, ore suppliers held prices firm while buyers showed limited willingness to chase higher prices, the two sides remained in a stalemate, and few new orders were concluded.
Rare earth oxides:
Prices: Pr-Nd oxide quoted prices continued to move higher, with low-priced cargoes further shrinking; dysprosium oxide prices stopped falling and stabilized; terbium oxide quoted prices continued to edge lower.
Supply and demand: Yesterday, after consecutive gains in Pr-Nd oxide prices, suppliers increasingly held prices firm and were reluctant to sell, inquiries from metal plants picked up, market confidence strengthened accordingly, and occasional high-priced actual transactions were concluded; after dysprosium prices stabilized, wait-and-see sentiment persisted among both upstream and downstream players; the terbium market remained weak, metal plants pushed for lower purchase prices, and transactions were concentrated at relatively low price levels.
Rare earth metals:
Prices: Pr-Nd alloy quoted prices edged up slightly, with costs following higher and transactions gradually following through; dysprosium-iron alloy quoted prices shifted from stable to lower; terbium metal quoted prices saw a wider decline.
Supply and demand: Yesterday, Pr-Nd alloy prices were passively adjusted higher along with rising raw material costs, with limited gains; trading activity picked up in the afternoon, with inquiries and actual orders following in tandem, and high-priced transactions were gradually concluded, but purchases remained mainly need-based, and whether high-level volumes can expand still needs to be observed. In medium-heavy rare earths, the terbium market saw a notably deeper decline, led by the metal segment, mainly because tender transaction prices from major producers were low and processing links showed greater willingness to cut prices; dysprosium-iron alloy shifted from stable to lower, with sluggish transactions.
NdFeB blanks:
Prices: NdFeB blank N35 (Ce) closed at 203-218 yuan/kg, NdFeB blank 35M closed at 253-263 yuan/kg, and NdFeB 35UH closed at 353-373 yuan/kg.
Supply and demand: Yesterday, NdFeB blank quoted prices showed no significant changes yet. Current raw material price fluctuations were relatively small and had not yet been transmitted to the magnetic material segment. In terms of trading, downstream motor plants have recently been mostly in the monthly order cargo pick-up stage. Meanwhile, constrained by the overall macro environment, end-use consumption was weak, downstream and motor plants showed average willingness to stockpile and restock, and large-volume orders have yet to be released.
NdFeB scrap:
Prices: Pr-Nd recycled from NdFeB scrap prices edged up slightly, while dysprosium recycled from NdFeB scrap and terbium recycled from NdFeB scrap prices held steady.
Supply and demand: Yesterday, scrap market prices edged up slightly, mainly driven by the continued rise in oxide prices. Recycling enterprises raised their external purchase quotes accordingly, but their willingness to chase higher prices remained weak, so actual gains were limited. Scrap suppliers showed strong wait-and-see sentiment, and actual market trading was average.
![Germanium prices have risen nearly 102% this year, minor metals sector active, Yunnan Germanium and China Northern Rare Earth lead gains [SMM Flash]](https://imgqn.smm.cn/usercenter/KXEYG20251217171725.jpg)
