Rare Earth Prices Pull Back Again as Downstream Procurement Becomes More Cautious [SMM Weekly Review]

SMM March 6 News:

Rare Earth Ores:

Today, the price range for rare earth carbonate was 35,600-35,800 yuan/mt, monazite prices were adjusted to 41,500-42,300 yuan/mt, and medium-yttrium, europium-rich ore prices were approximately 188,000-189,000 yuan/mt. Currently, the market sentiment for rare earth ore quotations and inquiries remains relatively low. According to miners, the supply of ion-adsorption ore is unlikely to recover in the short term, and rare earth ore prices are expected to fluctuate steadily overall.

Rare Earth Oxides:

Currently, lanthanum oxide prices have increased to 4,200-4,600 yuan/mt, while cerium oxide prices continued to rise rapidly this week to 11,000-13,000 yuan/mt. Throughout the week, prices for light and heavy rare earth oxides showed mixed changes. Pr-Nd prices mainly fluctuated downward due to weak downstream demand, but the market for terbium oxide was highly active, with prices rising rapidly. However, as prices climbed quickly, market sentiment turned cautious. By the weekend, mainstream rare earth product prices showed a pullback trend. Yttrium oxide prices rose quickly this week to 53,000-58,000 yuan/mt.

Rare Earth Metals:

In the metal market, metal producers showed low enthusiasm for active quotations today, with most suppliers basing their prices on corresponding oxides. Market inquiry activity was low, and with rare earth prices generally fluctuating downward, downstream magnetic material enterprises mainly engaged in purchasing as needed. Market sentiment remained cautious.

Rare Earth Permanent Magnets:

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

This week, rare earth prices continued to show slight fluctuations, while NdFeB magnetic material prices remained generally stable. Industry insiders noted that magnetic material enterprises currently hold high inventory costs and are unwilling to sell at low prices. However, downstream customers have limited acceptance of high-priced raw materials, leading to low overall market transaction activity. Currently, the order-taking prices of magnetic material enterprises are generally lower than market prices, severely compressing their profit margins. As a result, procurement attitudes have become cautious, with a wait-and-see approach toward market trends.

Rare Earth Scrap:

This week, prices for PrNd recycled from NdFeB scrap were 458-469 yuan/kg; dysprosium recycled from NdFeB scrap was 1,635-1,657 yuan/kg; and terbium recycled from NdFeB scrap was 5,287-5,341 yuan/kg.

This week, the NdFeB scrap market prices remained generally stable, with mainstream quotations still firm. However, due to slow growth in downstream demand, Pr-Nd products lacked upward price momentum. Additionally, market trading volumes were low, with few low-price transactions. Downstream buyers only conducted small-scale restocking, while traders shipped goods based on orders.

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