[SMM Rare Earth Morning Meeting Summary] Stalemate in Back-and-Forth Negotiations Between Upstream and Downstream, Rare Earth Prices Remain Generally Stable

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SMM March 17 News:

Rare Earth Ore

Prices: Rare earth carbonate prices are approximately 36,000 yuan/mt, monazite prices are around 42,500 yuan/mt, and medium-yttrium, europium-rich ore benchmark prices are about 189,500 yuan/mt.

Supply and Demand: Currently, suppliers at the mining end remain reluctant to sell, raw ore supply remains tight, and rare earth ore prices have slightly increased.

Rare Earth Oxides

Prices: Pr-Nd oxide quotation range is approximately 444,000-446,000 yuan/mt, mainstream quotations for dysprosium oxide are in the range of 1.7-1.71 million yuan/mt, and terbium oxide prices have been adjusted to around 6.6-6.65 million yuan/mt.

Supply and Demand: Last week, rare earth oxide prices were relatively stable as the weekend approached. Downstream buyers showed low trading volumes, producers maintained a strong sentiment to stand firm on quotes, and willingness to sell at low prices was weak, making it difficult for rare earth oxide prices to decline significantly.

Rare Earth Metals

Prices: Mainstream quotations for Pr-Nd alloy are in the range of 543,000-547,000 yuan/mt, dysprosium-iron alloy prices are approximately 1.64-1.66 million yuan/mt, and terbium metal prices are around 8.13-8.17 million yuan/mt.

Supply and Demand: Last week, the metal market was relatively quiet, with low trading activity. Pr-Nd alloy quotations slightly declined, and magnetic material enterprises showed weak purchase willingness, primarily focusing on low-price inquiries.

NdFeB Blanks

Prices: 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.

Supply and Demand: Last week, due to tender activities by major magnetic material enterprises, overall market confidence improved, and inquiry activity increased significantly. However, actual purchases remained demand-driven, with enterprises maintaining a cautious approach to inventory replenishment.

NdFeB Scrap

Prices: NdFeB scrap Pr-Nd prices were recorded at 469-480 yuan/kg; NdFeB scrap dysprosium prices at 1,635-1,679 yuan/kg; and NdFeB scrap terbium prices at 5,287-5,341 yuan/kg.

Supply and Demand: Last week, the scrap market was relatively stable. Separation enterprises showed moderate purchase willingness, mainly buying at lower prices, with actual transactions being average. Low-priced supplies in the market were relatively scarce, and most suppliers remained optimistic about future trends, thus standing firm on high prices.