[SMM Rare Earth Morning Meeting Summary] Rare Earth Prices Continue to Rise as Low-Priced Supply Tightens in the Market

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SMM January 7 News:

Rare Earth Ore

Prices: Rare earth carbonate prices are around 32,500 yuan/mt, monazite prices are around 37,000 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 limited willingness to sell, and overall trading remains sluggish.

Rare Earth Oxides

Prices: The mainstream quotation range for Pr-Nd oxide is 396,000-398,000 yuan/mt; the transaction range for dysprosium oxide is around 1.61-1.62 million yuan/mt, and terbium oxide quotations are approximately 5.6-5.64 million yuan/mt.

Supply and Demand: Yesterday, influenced by stockpiling purchases from metal plants and market news, separation plants raised their quotations, further tightening low-priced supply in the market. Actual transaction prices for rare earth oxides continued to rise.

Rare Earth Metals

Prices: The transaction price for Pr-Nd alloy is around 488,000-492,000 yuan/mt, dysprosium-iron prices corresponding to oxide quotations are approximately 1.56-1.57 million yuan/mt, and terbium metal quotations are around 6.95-7 million yuan/mt.

Supply and Demand: Yesterday, with the rise in oxide prices, metal plants also raised their quotations. However, downstream magnetic material enterprises showed average acceptance, making high-priced transactions for metal products relatively difficult.

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: Yesterday, rare earth prices rose overall. To prepare for the upcoming Chinese New Year holiday, magnetic material enterprises increased production efforts, leading to a warmer production atmosphere in the market.

NdFeB Scrap

Prices: NdFeB scrap Pr-Nd prices were quoted at 414-417 yuan/kg; NdFeB scrap dysprosium prices were quoted at 1,559-1,580 yuan/kg; NdFeB scrap terbium prices were quoted at 5,069-5,101 yuan/kg.

Supply and Demand: Yesterday, scrap manufacturers slightly raised their purchase quotations, and low-priced supply in the market gradually decreased, prompting trading enterprises to actively seek low-cost procurement. As the Chinese New Year approaches, enterprises have increased their stockpiling initiatives, with expectations for post-holiday price increases also strengthening. However, from a fundamental perspective, short-term scrap supply remains in surplus, and long-term price increases still face resistance.