Oxide Prices Fluctuate Upward as Low-Priced Supplies Tighten in the Market [SMM Weekly Review]

March 13 News:

Rare Earth Ore:

Today, the price range of rare earth carbonate is 36,000-36,100 yuan/mt, monazite prices have been adjusted to 42,000-42,600 yuan/mt, and medium-yttrium, europium-rich ore prices are approximately 189,000-190,000 yuan/mt. Currently, the supply of rare earth ore remains generally tight, with domestic quota growth slowing, overseas ore supply constrained, and emerging demand growth collectively driving improvements in the rare earth supply-demand pattern.

Rare Earth Oxides:

Currently, lanthanum oxide prices remain stable at 4,200-4,600 yuan/mt, while cerium oxide prices have continued to rise this week to 12,000-13,000 yuan/mt. Throughout the week, rare earth oxide prices have fluctuated upward, supported by procurement from leading manufacturers and firm quotes from separation plants. Meanwhile, increased inquiry activity from metal plants has tightened the availability of low-priced goods, leading to an upward adjustment in actual transaction prices for rare earth oxides. Yttrium oxide prices have also continued to rise this week to 55,000-57,000 yuan/mt.

Rare Earth Metals:

In the metal market, current quotes from metal plants are primarily based on corresponding oxide prices. This week, driven by tenders from downstream magnetic material enterprises, mainstream rare earth metal product prices have remained relatively firm. However, actual market trading for metal products has been relatively subdued, with prices encountering resistance to upward movement. In the short term, significant price volatility is unlikely.

Rare Earth Permanent Magnets:

NdFeB blank prices are 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 have remained relatively stable. As magnetic material enterprises begin restocking, the number of inquiries has increased, though overall procurement remains demand-driven. Centralized tenders from large magnetic material enterprises have further boosted market confidence. However, market polarization remains evident. Some small and medium-sized enterprises reported weaker-than-expected order volumes, coupled with price suppression pressure from downstream, resulting in order prices generally falling below market levels. This has intensified market competition, raising concerns about the survival of smaller enterprises. This situation is expected to persist in the short term.

Rare Earth Scrap:

This week, prices for PrNd recycled from NdFeB scrap are at 469-480 yuan/kg; dysprosium recycled from NdFeB scrap at 1,635-1,679 yuan/kg; and terbium recycled from NdFeB scrap at 5,287-5,341 yuan/kg.

This week, the overall supply in the scrap market has remained stable, though low-priced goods have decreased, reflecting a certain level of reluctance to sell. Despite steady downstream demand and slight improvements in market transactions, the overall sentiment remains cautious. Under stable pricing conditions, some enterprises have gradually increased their procurement volumes, though primarily to meet basic needs. In the short term, the NdFeB scrap market is expected to maintain stable operations. If downstream demand further recovers, prices may see an upward trend.

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