[SMM Rare Earth Morning Meeting Summary] Rare Earth Prices Remain Firm, Market Trading Activity Low

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SMM March 18 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 are still reluctant to sell, raw ore supply remains tight, and rare earth ore prices have slightly increased.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 445,000-446,000 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 6.6-6.65 million yuan/mt.

Supply and Demand: Yesterday, rare earth oxide prices showed relatively small fluctuations overall. At the beginning of the week, suppliers of rare earth oxides showed low quoting activity, actual market prices remained firm, downstream buyers showed weak inquiry activity, and actual trading volumes were relatively small.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 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: Yesterday, metal manufacturers mainly maintained stable quotations. Magnetic material enterprises showed low purchase willingness, and the back-and-forth negotiations between upstream and downstream remained intense, with little fluctuation in the actual transaction prices of rare earth metals.

Magnetic Materials

Prices: NdFeB blank prices were as follows: 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, the prices of mainstream rare earth products remained generally stable. Magnetic material enterprises primarily focused on low-end finished product orders, which were relatively ideal in terms of pricing. However, the profit margins for medium- and high-end orders were relatively low.

NdFeB Scrap

Prices: Prices for PrNd recycled from NdFeB scrap closed at 469-480 yuan/kg; prices for dysprosium recycled from NdFeB scrap closed at 1,635-1,679 yuan/kg; prices for terbium recycled from NdFeB scrap closed at 5,287-5,341 yuan/kg.

Supply and Demand: Yesterday, mainstream quotations in the scrap market remained stable. Due to tight market supply and manufacturers maintaining normal inventory levels, most purchasing activities were concentrated in essential demand areas. Meanwhile, traders continued to adopt a reluctant-to-sell strategy, resulting in mediocre actual trading performance.