[SMM Rare Earth Morning Meeting Summary] Market Sentiment Remains Cautious, Suppliers Reduce Quoting Willingness

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SMM January 2 News:

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 mines have resumed operations, separation plants maintained a strong wait-and-see sentiment, with weak purchase willingness.

Rare Earth Oxides

Prices: The mainstream quotation range for Pr-Nd oxide was 396,000-398,000 yuan/mt; dysprosium oxide transaction prices were around 1.61 million yuan/mt, and terbium oxide quotations were approximately 5.58-5.64 million yuan/mt.

Supply and Demand: After the New Year holiday, the market quotation atmosphere was not active, with few proactive offers in the market. Most suppliers remained in a wait-and-see state, with low willingness to quote, while buyers made tentative inquiries.

Rare Earth Metals

Prices: Pr-Nd alloy market transaction prices were 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: Before the New Year holiday, metal plants made few proactive quotations, and the market maintained a strong wait-and-see sentiment. It is expected that today's market trading atmosphere will remain subdued.

Magnetic Materials

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

Supply and Demand: As the New Year holiday approached, magnetic material enterprises generally adopted a wait-and-see attitude, with reduced inquiry activity. The market remained focused on the release of post-holiday orders. Currently, demand remained weak.

NdFeB Scrap

Prices: NdFeB scrap Pr-Nd prices were quoted at 403-417 yuan/kg; NdFeB scrap dysprosium prices were quoted at 1,559-1,580 yuan/kg; NdFeB scrap terbium prices were quoted at 5,014-5,069 yuan/kg.

Supply and Demand: As the year-end approached, enterprises generally showed low willingness for inventory stocking, with most adopting a strategy of reducing inventory. Over time, market trading volumes gradually decreased. Although scrap supply in the market remained relatively sufficient, enterprises primarily focused on cost control and adopted cautious procurement strategies.