[SMM Rare Earth Morning Meeting Summary] Supplier Quotes Remain Firm, Oxide Price Fluctuations Are Minimal

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SMM February 19 News:

Rare Earth Ore

Prices: Rare earth carbonate prices are approximately 35,200 yuan/mt, monazite prices are around 39,900 yuan/mt, and medium-yttrium, europium-rich ore benchmark prices are about 185,000 yuan/mt.

Supply and Demand: Currently, the rare earth oxide market activity is not strong. Prices of mine-end products remain relatively stable amid slightly tight supply.

Rare Earth Oxides

Prices: The mainstream quotation range for Pr-Nd oxide is 433,000-434,000 yuan/mt; dysprosium oxide's mainstream transactions are around 1.7 million yuan/mt, and terbium oxide prices are approximately 6.05-6.1 million yuan/mt.

Supply and Demand: Yesterday, rare earth oxide prices were relatively stable overall. Market inquiry activity was low, suppliers maintained firm quotations, and price fluctuations for rare earth oxides were relatively small.

Rare Earth Metals

Prices: The mainstream quotation for Pr-Nd alloy is about 530,000-535,000 yuan/mt, dysprosium-iron prices corresponding to oxide quotations are around 1.67-1.68 million yuan/mt, and terbium metal prices are approximately 7.5-7.55 million yuan/mt.

Supply and Demand: Yesterday, metal product prices showed a slight decline overall. Downstream order releases were weak, magnetic material enterprises showed low purchase willingness, market trading activity was subdued, and some participants' confidence in the future market weakened.

Magnetic Materials

Prices: NdFeB blank prices—NdFeB blank N38 (Ce) closed at 139-149 yuan/kg; NdFeB blank 40M closed at 185-195 yuan/kg; NdFeB blank 40H closed at 189-199 yuan/kg; NdFeB blank 45SH (Ce) closed at 239-259 yuan/kg.

Supply and Demand: Yesterday, rare earth prices were generally stable. However, purchasing enthusiasm in the magnetic material market remained low, and downstream orders did not show significant growth. Enterprises maintained a wait-and-see attitude toward the future market.

NdFeB Scrap

Prices: PrNd recycled from NdFeB scrap closed at 447-457 yuan/kg; dysprosium recycled from NdFeB scrap closed at 1,608-1,635 yuan/kg; terbium recycled from NdFeB scrap closed at 5,109-5,178 yuan/kg.

Supply and Demand: Recently, market sentiment has weakened compared to before. Supply has slightly increased, making procurement easier for manufacturers. Most manufacturers opted to replenish inventory. Meanwhile, traders' willingness to chase high prices has pulled back, with short-term strategies focusing on locking in inquiries.