Frequent Price Fluctuations of Oxides, Inactive Market Trading [SMM Weekly Review]

February 27 News:

Rare Earth Ores:

Today, the price range of rare earth carbonate is 36,400-36,500 yuan/mt, monazite prices have increased to 41,500-42,500 yuan/mt, and medium-yttrium, europium-rich ore prices are approximately 189,000-191,000 yuan/mt. Currently, the supply of raw materials on the rare earth ore side remains relatively tight, but downstream separation enterprises show weak stockpiling willingness. Rare earth ore prices are not expected to see significant increases.

Rare Earth Oxides:

Currently, lanthanum oxide prices have slightly adjusted to 3,800-4,200 yuan/mt, while cerium oxide prices have rapidly increased this week to 9,400-10,200 yuan/mt. Throughout the week, rare earth oxide prices fluctuated frequently. Early in the week, influenced by market sentiment, suppliers generally quoted higher prices. However, downstream buyers were cautious about high-priced raw materials, leading to a lack of active trading in the rare earth market, and rare earth oxide prices subsequently pulled back. Yttrium oxide prices increased this week to 43,000-45,000 yuan/mt.

Rare Earth Metals:

In the metal market, driven by tenders from top-tier magnetic material enterprises, Pr-Nd alloy prices saw a significant increase early in the week. However, as procurement concluded, market transactions gradually cooled, and metal product prices began to pull back along with oxides. It is understood that magnetic material enterprises are facing poor order intake, making high-priced transactions for metal products difficult. Rare earth product prices are expected to fluctuate downward in the near term.

Rare Earth Permanent Magnets:

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.

This week, rare earth prices showed slight fluctuations, while NdFeB prices remained relatively stable. Due to downstream buyers' cautious attitude toward high-priced materials, the overall purchasing enthusiasm in the magnetic material market was low. Additionally, as the release speed of downstream orders fell short of market expectations, magnetic material enterprises primarily focused on long-term orders, reflecting a strong wait-and-see sentiment overall.

Rare Earth Scrap:

This week, 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.

This week, scrap prices fluctuated slightly along with oxide prices but gradually stabilized overall. Currently, the market has reported limited spot cargo for scrap. Some traders, having liquidated inventories earlier, are now rebuilding low inventory positions, with an increased willingness to purchase actively. Additionally, influenced by the overall upward trend in the rare earth market, market sentiment toward NdFeB scrap enterprises has become increasingly bullish, with inquiries becoming more active. Magnetic material enterprises also hold high expectations for scrap prices in the future, showing low willingness to sell at lower prices.

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