Fear of Heights Gradually Emerging, Rare Earth Prices Jump Initially and Then Pull Back [SMM Weekly Review]

February 13 News:

Rare Earth Ore:

Today, the price range of rare earth carbonate was 35,100-35,200 yuan/mt, monazite prices remained stable at 39,500-40,200 yuan/mt, and medium-yttrium, europium-rich ore prices were approximately 185,000-186,000 yuan/mt. Currently, the supply of ion-adsorption ore is significantly insufficient, and buyers have stopped deducting processing fees during procurement.

Rare Earth Oxides:

Currently, lanthanum oxide prices remained stable at 3,600-4,000 yuan/mt, while cerium oxide prices increased to 8,000-8,500 yuan/mt. During the week, rare earth oxide prices jumped initially and then pulled back. Suppliers, facing tight ore supply, showed low willingness to sell at lower prices, leading to intense back-and-forth negotiations between upstream and downstream. It is expected that oxide prices will gradually stabilize in the future. Yttrium oxide prices slightly decreased this week to 40,000-42,000 yuan/mt.

Rare Earth Metals:

In the metal market, driven by tenders from major magnetic material enterprises, Pr-Nd alloy prices saw a significant increase at the beginning of the week. However, the rapid price surge also triggered concerns about high prices. Coupled with sufficient stockpiling by magnetic material enterprises before the holiday, buyers' sentiment gradually turned cautious, and price fluctuations have narrowed in recent days.

Rare Earth Permanent Magnets:

This week, the festive atmosphere in the magnetic material market gradually faded, and enterprises resumed normal production, focusing primarily on fulfilling pre-holiday orders. Influenced by upstream raw material price fluctuations and procurement news from major enterprises, the inquiry activity of magnetic material enterprises increased. However, the downstream market's acceptance of high-priced materials remained limited, resulting in low actual trading volume and a strong market sentiment of caution.

Rare Earth Scrap:

This week, NdFeB scrap Pr-Nd prices were reported at 447-457 yuan/kg; NdFeB scrap dysprosium prices were reported at 1,608-1,635 yuan/kg; NdFeB scrap terbium prices were reported at 5,109-5,137 yuan/kg.

This week, the rare earth scrap market remained stable, with limited price fluctuation. The future market trend will depend on the resumption progress of downstream magnetic material enterprises and the release of demand. If downstream demand gradually recovers, rare earth scrap prices may see a slight increase. Conversely, if demand remains weak, the market may continue to fluctuate rangebound.

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