[SMM Rare Earth Morning Meeting Summary] Market Transactions Are Subpar, Oxide Prices Drop Back Slightly

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SMM February 26 News:

Rare Earth Ore

Prices: The price of rare earth carbonate is approximately 36,500 yuan/mt, monazite is around 42,000 yuan/mt, and medium-yttrium, europium-rich ore (standard ore) is about 190,000 yuan/mt.

Supply and Demand: Currently, with a slightly tight supply of ore-end products, prices remain relatively stable, and market sentiment is dominated by a wait-and-see attitude.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 448,000-450,000 yuan/mt, mainstream quotations for dysprosium oxide are in the range of 1.72-1.74 million yuan/mt, and terbium oxide prices have been adjusted to around 6.25 million yuan/mt.

Supply and Demand: Yesterday, upstream suppliers maintained firm quotations, but downstream buyers were cautious, resulting in poor actual trading performance in the market. Some traders actively lowered prices to push sales, leading to a slight pullback in overall rare earth oxide prices.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 549,000-553,000 yuan/mt, dysprosium-iron alloy is quoted at approximately 1.69-1.71 million yuan/mt, and terbium metal is priced at around 7.8-7.85 million yuan/mt.

Supply and Demand: Yesterday, actual transactions of rare earth metal products were limited. Downstream magnetic material enterprises had constrained order-taking capacity, prompting some suppliers to offer discounts to facilitate sales. As a result, the price trend of metal products began to weaken.

Magnetic Materials

Prices: NdFeB blank prices are as follows: 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, the strong upward trend in the prices of mainstream rare earth products in the earlier period has made it difficult for end-user enterprises to lock in prices for placing orders. Consequently, the number of new orders has decreased, and magnetic material enterprises' willingness to purchase raw materials has also declined, resulting in relatively limited trading volume.

NdFeB Scrap

Prices: PrNd recycled from NdFeB scrap closed at 457-474 yuan/kg; dysprosium recycled from NdFeB scrap closed at 1,635-1,657 yuan/kg; terbium recycled from NdFeB scrap closed at 5,123-5,178 yuan/kg.

Supply and Demand: With the adjustment of oxide prices, the scrap market prices have also fluctuated but are gradually stabilizing overall. Quotations in the market have slightly increased, and separation enterprises are actively procuring raw materials, leading to some improvement in trading conditions.