[SMM Rare Earth Morning Meeting Summary] Rare Earth Prices Remain Weak, Downstream Procurement Remains Cautious

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SMM March 4 News:

Rare Earth Ore

Prices: Rare earth carbonate prices are around 35,700 yuan/mt, monazite prices are around 41,900 yuan/mt, and medium-yttrium, europium-rich ore standard ore prices are around 189,000 yuan/mt.

Supply and Demand: Currently, ore supply remains tight, and suppliers show moderate enthusiasm for shipments.

Rare Earth Oxides

Prices: Pr-Nd oxide quotation range is approximately 439,000-442,000 yuan/mt, mainstream quotations for dysprosium oxide are in the range of 1.69-1.71 million yuan/mt, and terbium oxide prices have been adjusted to around 6.55-6.6 million yuan/mt.

Supply and Demand: Yesterday, the prices of mainstream rare earth products generally fluctuated downward. Although major producers maintained relatively firm quotations, some suppliers showed weakened confidence and actively sold at lower prices.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 538,000-542,000 yuan/mt, dysprosium-iron alloy prices are around 1.65-1.67 million yuan/mt, and terbium metal prices are around 8.12-8.18 million yuan/mt.

Supply and Demand: Yesterday, metal prices showed a downward trend following the decline in oxide prices. Traders actively sold at lower prices, but according to survey results, most industry participants remain optimistic about the market outlook, expecting the price decline to be limited.

NdFeB Blank

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, rare earth prices fluctuated. Magnetic material enterprises placed orders corresponding to metal prices. With the decline in Pr-Nd product prices, market inquiries increased tentatively, but actual transactions remained cautious, and market sentiment was predominantly wait-and-see.

NdFeB Scrap

Prices: PrNd recycled from NdFeB scrap closed at 458-469 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: Yesterday, due to a slight decline in oxide prices, scrap prices also underwent minor adjustments. However, overall, scrap enterprises continued to negotiate prices based on specific compositions and proportions. After morning price fluctuations, market prices stabilized by midday. Mainstream sellers reduced shipments, low-priced sources became scarce, and transaction prices slightly increased.