[SMM Rare Earth Morning Meeting Summary] Pr-Nd Product Prices Slightly Declined, Market Sentiment Turned Cautious

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SMM February 11 News:

Rare Earth Ore

Prices: Rare earth carbonate prices are approximately 35,500 yuan/mt, monazite prices are around 39,600 yuan/mt, and medium-yttrium, europium-rich ore standard ore prices are about 186,500 yuan/mt.

Supply and Demand: Currently, the supply of rare earth raw ore is tight, with scarce availability, and ion-adsorption ore processing fees continue to decline.

Rare Earth Oxides

Prices: The mainstream quotation range for Pr-Nd oxide is 437,000-438,000 yuan/mt; the transaction range for dysprosium oxide is approximately 1.73-1.74 million yuan/mt, and terbium oxide quotations are around 6.15-6.17 million yuan/mt.

Supply and Demand: Last night, the mainstream transaction prices of Pr-Nd products struggled to rise, with some suppliers actively lowering prices to sell, causing a slight decline in Pr-Nd oxide transaction prices compared to yesterday morning. Dysprosium oxide and terbium oxide prices also gradually stabilized, with market sentiment showing increasing caution toward high prices.

Rare Earth Metals

Prices: The mainstream quotation for Pr-Nd alloy is approximately 540,000-542,000 yuan/mt, dysprosium-iron prices corresponding to oxide quotations are around 1.68-1.7 million yuan/mt, and terbium metal quotations are about 7.6 million yuan/mt.

Supply and Demand: Yesterday, Pr-Nd alloy prices rose rapidly following the tender quotations of major magnetic material enterprises, while dysprosium-iron and terbium metal quotations also increased along with oxide products. Most market participants hold optimistic expectations for the post-holiday market, and low-priced supplies in the market tightened quickly.

Magnetic Materials

Prices: NdFeB blank prices—NdFeB blank N38 (Ce) closed at 139-149 yuan/kg; NdFeB blank 40M closed at 185-195 yuan/kg; NdFeB blank 40H closed at 189-199 yuan/kg; NdFeB blank 45SH (Ce) closed at 239-259 yuan/kg.

Supply and Demand: Yesterday, rare earth prices continued to rise, and magnetic material enterprises adjusted their quotations in line with the Pr-Nd alloy market prices. However, due to the rapid price increase in recent days, the current market transaction situation remains unclear, with overall purchase willingness relatively low and enterprises generally adopting a cautious and observant attitude.

NdFeB Scrap

Prices: NdFeB scrap Pr-Nd prices closed at 447-457 yuan/kg; NdFeB scrap dysprosium prices closed at 1,608-1,635 yuan/kg; NdFeB scrap terbium prices closed at 5,109-5,137 yuan/kg.

Supply and Demand: Yesterday, the rare earth market saw a significant price surge, and scrap separation enterprises generally adopted a wait-and-see attitude. Some traders chose to sell at high levels, leading to certain selling pressure in the market. However, actual trading volume did not show a significant increase, and the phenomenon of inverted scrap prices persists.