[SMM Rare Earth Morning Brief] Pr-Nd Oxide Remains Weak, Dysprosium and Terbium Products See a Slight Rebound

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SMM, December 30:

Rare Earth Ore

Prices: Rare earth carbonate prices were approximately 32,300 yuan/mt, monazite prices were around 36,800 yuan/mt, and medium-yttrium, europium-rich ore benchmark prices were about 170,000 yuan/mt.

Supply and Demand: Currently, miners show low willingness to sell, suppliers maintain firm quotations, separation plants exhibit strong wait-and-see sentiment, and market trading activity remains subdued.

Rare Earth Oxides

Prices: The mainstream quotation range for Pr-Nd oxide was 396,000-400,000 yuan/mt; the transaction range for dysprosium oxide was 1.59-1.61 million yuan/mt, and terbium oxide quotations were approximately 5.58-5.65 million yuan/mt.

Supply and Demand: Last week, Pr-Nd oxide prices continued to weaken. However, as the year-end approached, suppliers were reluctant to sell at low prices, with only some traders selling small quantities at lower prices to recover funds. Dysprosium and terbium products saw slight upward movement influenced by news from the mining sector.

Rare Earth Metals

Prices: The transaction price for Pr-Nd alloy was approximately 488,000-492,000 yuan/mt, dysprosium-iron prices corresponding to oxide quotations were around 1.56-1.57 million yuan/mt, and terbium metal quotations were about 6.95-7 million yuan/mt.

Supply and Demand: Last week, metal producers adjusted Pr-Nd alloy quotations downward in line with oxide prices. Leading metal producers maintained relatively high quotations with a strong sentiment to stand firm on quotes. However, downstream magnetic material enterprises exerted significant pressure to lower prices, and some traders continued to sell at low prices, resulting in actual transaction prices remaining weak.

Magnetic Materials

Prices: NdFeB blank prices for NdFeB blank N35 (Ce) were reported at 125-135 yuan/kg, while NdFeB blank 38H prices were reported at 170-180 yuan/kg.

Supply and Demand: Last week, rare earth prices experienced a slight pullback after a surge. The magnetic material market continued to adhere to the principle of purchasing as needed. Due to weak support from downstream orders, magnetic material enterprises found it difficult to accept high-priced raw materials, and market purchasing enthusiasm remained low.

NdFeB Scrap

Prices: NdFeB scrap Pr-Nd prices were reported at 408-417 yuan/kg; NdFeB scrap dysprosium prices were reported at 1,559-1,580 yuan/kg; NdFeB scrap terbium prices were reported at 5,014-5,069 yuan/kg.

Supply and Demand: Last week, due to a slight rise in oxide prices, low-priced sources in the scrap market decreased. Trading enterprises began small-scale inquiries and stockpiling before the year-end but remained cautious about high prices. Producers maintained their procurement strategies, primarily engaging in small-scale just-in-time procurement.