[SMM Rare Earth Morning Meeting Summary] Light Rare Earth Prices Fluctuate Relatively Small, Heavy Rare Earth Prices Surge Rapidly

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SMM February 28 News:

Rare Earth Ore

Prices: Rare earth carbonate prices are approximately 36,400 yuan/mt, monazite prices are around 42,000 yuan/mt, and medium-yttrium, europium-rich ore standard ore prices are about 190,000 yuan/mt.

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

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 445,000-450,000 yuan/mt, mainstream quotations for dysprosium oxide are in the range of 1.7-1.72 million yuan/mt, and terbium oxide prices have been adjusted to around 6.45 million yuan/mt.

Supply and Demand: Yesterday, oxide prices showed mixed changes. Pr-Nd oxide prices continued to drop back slightly, but supplier quotations remained firm, with relatively small fluctuations. Meanwhile, the supply of ion-adsorption ore remained poor, and prices for some heavy rare earths, such as terbium oxide, rose rapidly.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 545,000-550,000 yuan/mt, dysprosium-iron alloy prices are approximately 1.66-1.68 million yuan/mt, and terbium metal prices are around 8.05-8.1 million yuan/mt.

Supply and Demand: Yesterday, metal factory quotations fluctuated with oxide prices. Some traders sold at lower prices, and transaction prices for Pr-Nd alloy continued to fluctuate downward, with actual market transactions performing poorly.

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: Yesterday, magnetic material prices remained overall stable. Due to low acceptance of high-priced raw materials by downstream customers, the overall purchasing enthusiasm in the magnetic material market is low, and enterprises are largely adopting a wait-and-see attitude.

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: Recently, mainstream quotations in the market have remained stable, with significantly narrowed price fluctuations. Most trading companies are procuring based on demand, while producers focus on replenishing essential inventory.