[SMM Rare Earth Morning Meeting Summary] Low-Priced Supply Tightens Rapidly, Rare Earth Prices Continue to Strengthen

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SMM February 7 News:

Rare Earth Ore

Prices: Rare earth carbonate prices are approximately 34,100 yuan/mt, monazite prices are approximately 38,400 yuan/mt, and medium-yttrium, europium-rich ore standard ore prices are approximately 179,500 yuan/mt.

Supply and Demand: Currently, the market is still influenced by the festive atmosphere, with low activity in ore market transactions and suppliers offering relatively high quotations.

Rare Earth Oxides

Prices: The mainstream quotation range for Pr-Nd oxide is 421,000-423,000 yuan/mt; the transaction range for dysprosium oxide is around 1.68-1.7 million yuan/mt, and terbium oxide quotations are approximately 5.95-5.98 million yuan/mt.

Supply and Demand: Yesterday, rare earth suppliers offered relatively high quotations, and low-priced supplies further tightened. The mainstream transaction prices of rare earth oxides continued to fluctuate upward, with most market participants remaining confident in the future prices of rare earths.

Rare Earth Metals

Prices: The mainstream quotation for Pr-Nd alloy is approximately 515,000-520,000 yuan/mt, dysprosium-iron prices corresponding to oxide quotations are around 1.64-1.66 million yuan/mt, and terbium metal quotations are approximately 7.4-7.45 million yuan/mt.

Supply and Demand: Rare earth metal manufacturers offered few active quotations yesterday, while suppliers continued to raise quotations corresponding to oxides. Low-priced supplies were scarce, and some enterprises indicated that inquiries from downstream magnetic material enterprises were relatively small. The transaction activity is expected to fully recover next week.

Magnetic Materials

Prices: NdFeB blank prices—NdFeB blank N38 (Ce) closed at 133-143 yuan/kg; NdFeB blank 40M closed at 179-189 yuan/kg; NdFeB blank 40H closed at 183-193 yuan/kg; NdFeB blank 45SH (Ce) closed at 233-253 yuan/kg.

Supply and Demand: Currently, magnetic material enterprises have just resumed work, with low production enthusiasm. Quotations in the market are relatively scarce, and overall trading activity remains subdued. Enterprises generally hold a wait-and-see attitude, anticipating further clarity in the market next week.

NdFeB Scrap

Prices: NdFeB scrap Pr-Nd prices closed at 441-447 yuan/kg; NdFeB scrap dysprosium prices closed at 1,559-1,591 yuan/kg; NdFeB scrap terbium prices closed at 5,095-5,123 yuan/kg.

Supply and Demand: As the market gradually enters the resumption phase, overall transactions remain sluggish. Due to the phenomenon of manufacturers operating at a loss, purchase willingness is low. Traders are not optimistic about the market outlook, resulting in few upward quotations and causing the market to stagnate.