[SMM Rare Earth Morning Meeting Summary] Downstream Purchase Willingness Decreases, Pr-Nd Prices Pull Back Slightly

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SMM January 8 News:

Rare Earth Ore

Prices: Rare earth carbonate prices are around 32,500 yuan/mt, monazite prices are around 37,300 yuan/mt, and medium-yttrium, europium-rich ore standard ore prices are around 173,000 yuan/mt.

Supply and Demand: Currently, the mining market activity is low, suppliers show low willingness to sell, and overall trading is relatively quiet.

Rare Earth Oxides

Prices: The mainstream quotation range for Pr-Nd oxide is 400,000-403,000 yuan/mt; the transaction range for dysprosium oxide is around 1.63-1.64 million yuan/mt, and terbium oxide quotations are around 5.8-5.9 million yuan/mt.

Supply and Demand: Yesterday, high-price sentiment gradually emerged in the oxide market. Metal factories, facing significant losses in raw material costs, showed a noticeable decrease in high-price purchase willingness. The actual transaction price of Pr-Nd oxide slightly pulled back, and some suppliers have currently stopped quoting.

Rare Earth Metals

Prices: The mainstream quotation for Pr-Nd alloy is around 490,000-495,000 yuan/mt, dysprosium-iron prices corresponding to oxide quotations are around 1.58-1.6 million yuan/mt, and terbium metal quotations are around 7.2-7.25 million yuan/mt.

Supply and Demand: Yesterday, metal factories continued to quote high prices following oxide prices, but magnetic material enterprises showed weak purchasing strength, mainly buying on dips.

Magnetic Materials

Prices: NdFeB blank prices for NdFeB blank N35 (Ce) closed at 125-135 yuan/kg; NdFeB blank 38H prices closed at 170-180 yuan/kg.

Supply and Demand: Yesterday, rare earth prices continued their strong trend. To prepare for the upcoming Chinese New Year holiday, magnetic material enterprises accelerated production, and market production sentiment improved. However, in terms of procurement, enterprises still adhered to a strategy of restocking as needed, and market trading remained cautious.

NdFeB Scrap

Prices: NdFeB scrap Pr-Nd prices closed at 414-417 yuan/kg; NdFeB scrap dysprosium prices closed at 1,559-1,580 yuan/kg; NdFeB scrap terbium prices closed at 5,069-5,123 yuan/kg.

Supply and Demand: Yesterday, scrap manufacturers maintained stable purchase quotations, and low-priced supplies in the market became increasingly difficult to procure. Trading enterprises actively sought low-price purchases and strengthened stockpiling before the Chinese New Year. However, due to fluctuations in the supply and demand fundamentals, long-term price increases still face resistance.