[SMM Rare Earth Morning Meeting Summary] Suppliers Hold a Strong Wait-and-See Sentiment, Market Trading Atmosphere Remains Subdued

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SMM, December 31:

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 standard ore prices were about 170,000 yuan/mt.

Supply and Demand: Currently, although Myanmar ore imports have resumed, separation plants are adopting a wait-and-see sentiment, with weak purchase willingness.

Rare Earth Oxides

Prices: The mainstream quotation range for Pr-Nd oxide was 396,000-399,000 yuan/mt; the transaction range for dysprosium oxide was 1.6-1.61 million yuan/mt, and terbium oxide prices were approximately 5.58-5.64 million yuan/mt.

Supply and Demand: Yesterday, influenced by market news, suppliers exhibited a strong wait-and-see sentiment. Some separation plants maintained firm quotations, while downstream buyers hesitated, resulting in a sluggish market trading atmosphere. Oxide prices remained relatively stable.

Rare Earth Metals

Prices: The market 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 prices were about 6.95-7 million yuan/mt.

Supply and Demand: Yesterday, metal producers showed low quotation activity. As New Year's Day approaches, most participants exhibited weak willingness for inquiries and sales, leading to a subdued market purchasing atmosphere.

Magnetic Materials

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

Supply and Demand: Yesterday, rare earth prices overall remained stable. The production status of the magnetic materials market was relatively stable, with no significant increase in short-term orders. Downstream demand remained weak, and it is expected that orders will not see substantial growth before the Chinese New Year.

NdFeB Scrap

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

Supply and Demand: Yesterday, the overall scrap market situation remained relatively stable. Before the year-end, trading enterprises have started small-scale inquiries and inventory preparations but remain cautious about high prices. Meanwhile, producers have not changed their procurement strategies, focusing mainly on small-scale rigid demand purchases.