[SMM Rare Earth Morning Meeting Summary] Oxide Prices Rise, Market Trading Volume Grows Slowly

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SMM February 10 News:

Rare Earth Ore

Prices: Rare earth carbonate prices were approximately 34,400 yuan/mt, monazite prices were around 38,500 yuan/mt, and medium-yttrium, europium-rich ore standard ore prices were about 181,000 yuan/mt.

Supply and Demand: Currently, the supply of rare earth raw ore is tight, with scarce availability. Suppliers are generally holding firm on high prices.

Rare Earth Oxides

Prices: The mainstream quotation range for Pr-Nd oxide was 424,000-426,000 yuan/mt; the transaction range for dysprosium oxide was around 1.68-1.7 million yuan/mt, and terbium oxide prices were approximately 5.97-6 million yuan/mt.

Supply and Demand: Last week, the prices of mainstream oxide products rose rapidly. Due to the increase in raw material prices and market expectations of further price hikes, inquiry activity significantly increased. However, the actual growth in trading volume remained relatively slow.

Rare Earth Metals

Prices: The mainstream quotation for Pr-Nd alloy was about 522,000-524,000 yuan/mt, dysprosium-iron prices corresponding to oxide quotations were around 1.65-1.66 million yuan/mt, and terbium metal prices were approximately 7.45-7.48 million yuan/mt.

Supply and Demand: Last week, as oxide prices continued to rise, metal enterprises adjusted their quotations accordingly. Downstream magnetic material enterprises adopted a cautious approach, mainly purchasing when prices were relatively low. Overall market trading activity has yet to recover.

Magnetic Materials

Prices: NdFeB blank prices were as follows: NdFeB blank N38 (Ce) at 136-146 yuan/kg; NdFeB blank 40M at 182-192 yuan/kg; NdFeB blank 40H at 186-196 yuan/kg; and NdFeB blank 45SH (Ce) at 236-256 yuan/kg.

Supply and Demand: Last week, magnetic material enterprises had just resumed operations. Due to incomplete staffing, production enthusiasm was temporarily low, and market quotations were relatively scarce. Overall trading activity was not high, with most enterprises adopting a wait-and-see attitude toward the market outlook.

NdFeB Scrap

Prices: NdFeB scrap Pr-Nd prices were 447-452 yuan/kg; NdFeB scrap dysprosium prices were 1,559-1,591 yuan/kg; and NdFeB scrap terbium prices were 5,095-5,123 yuan/kg.

Supply and Demand: Last week, due to the rise in oxide prices, scrap prices also increased. Enterprises and traders generally quoted higher prices. Some enterprises made purchases due to rigid demand. Although trading volumes were relatively small, prices remained high.