[SMM Rare Earth Morning Meeting Summary] Market Low-Priced Supply Tightens, Buyers Hold Strong Sentiment of Wait-and-See

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SMM February 25 News:

Rare Earth Ore

Prices: Rare earth carbonate prices are approximately 36,300 yuan/mt, monazite prices are around 41,300 yuan/mt, and medium-yttrium, europium-rich ore standard ore prices are about 189,000 yuan/mt.

Supply and Demand: Currently, with slightly tight supply on the mining side, prices remain relatively stable, and market sentiment is dominated by a wait-and-see attitude.

Rare Earth Oxides

Prices: Pr-Nd oxide quotation range is approximately 448,000-451,000 yuan/mt, mainstream quotations for dysprosium oxide are in the range of 1.72-1.75 million yuan/mt, and terbium oxide prices have been adjusted to around 6.25 million yuan/mt.

Supply and Demand: Yesterday, influenced by market sentiment, suppliers significantly raised their quotations, and low-priced goods in the market tightened quickly. However, downstream buyers maintained a strong wait-and-see sentiment, resulting in limited actual transactions in the market.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 550,000-555,000 yuan/mt, dysprosium-iron alloy prices are around 1.7-1.74 million yuan/mt, and terbium metal prices have been adjusted to 7.8-7.85 million yuan/mt.

Supply and Demand: Yesterday, under the influence of bidding by top-tier magnetic material enterprises downstream, Pr-Nd alloy quotations increased. Additionally, with significant increases in raw material prices, suppliers maintained firm quotations, and actual transaction prices for metal products rose significantly.

Magnetic Materials

Prices: NdFeB blank prices—NdFeB blank N38 (Ce) closed at 145-155 yuan/kg; NdFeB blank 40M closed at 191-201 yuan/kg; NdFeB blank 40H closed at 195-205 yuan/kg; NdFeB blank 45SH (Ce) closed at 245-265 yuan/kg.

Supply and Demand: Currently, inquiries for low-priced orders from magnetic material enterprises have increased, and a small number of transactions have started to appear in the market. Enterprises are paying more attention to low-priced goods but remain cautious and focus on moderate procurement.

NdFeB Scrap

Prices: PrNd recycled from NdFeB scrap closed at 457-469 yuan/kg; dysprosium recycled from NdFeB scrap closed at 1,635-1,657 yuan/kg; terbium recycled from NdFeB scrap closed at 5,109-5,178 yuan/kg.

Supply and Demand: Yesterday, with the increase in inquiries from downstream magnetic material sectors, mainstream market quotations generally rose. Separation enterprises correspondingly increased their raw material procurement efforts, leading to tighter low-priced goods in the market. Manufacturers faced greater procurement difficulties, and the sentiment of reluctance to sell became more pronounced.