SMM Rare Earth Morning Meeting Summary: Rare Earth Prices Slightly Increased, Market Procurement Remains Cautious

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SMM March 31 News:

Rare Earth Ore

Prices: Rare earth carbonate prices were around 35,700 yuan/mt, monazite prices were around 42,200 yuan/mt, and medium-yttrium, europium-rich ore prices were around 186,000 yuan/mt.

Supply and Demand: Currently, ore-related news is mixed, separation plants have low purchasing enthusiasm, and ore suppliers' quotations remain firm.

Rare Earth Oxides

Prices: Pr-Nd oxide quotation range was around 442,000-445,000 yuan/mt, mainstream dysprosium oxide quotation range was 1.65-1.68 million yuan/mt, and terbium oxide prices were adjusted to around 6.5-6.55 million yuan/mt.

Supply and Demand: Last week, an earthquake in Myanmar caused some industry players to panic about shortages, and some traders took the opportunity to speculate. Rare earth oxide quotations slightly increased, but downstream purchasing was relatively rational, with limited willingness to chase higher prices. Miners generally reflected that the earthquake had a relatively small impact on supply and demand, and it is expected that rare earth raw material prices will remain stable.

Rare Earth Metals

Prices: Mainstream Pr-Nd alloy quotation range was 541,000-545,000 yuan/mt, dysprosium-iron alloy prices were around 1.6-1.62 million yuan/mt, and terbium metal prices were around 8.05-8.15 million yuan/mt.

Supply and Demand: Currently, rare earth raw material price fluctuations are relatively small, and metal plant quotations continue to remain stable. Overall, with downstream magnetic material enterprises having poor order intake, rare earth raw material prices are unlikely to see high-price transactions, and the market purchasing atmosphere remains sluggish.

NdFeB Blank

Prices: NdFeB blank N38 (Ce) was quoted at 145-155 yuan/kg; NdFeB blank 40M was quoted at 191-201 yuan/kg; NdFeB blank 40H was quoted at 195-205 yuan/kg; NdFeB blank 45SH (ce) was quoted at 245-265 yuan/kg.

Supply and Demand: Last week, affected by news, rare earth prices fluctuated. However, the overall sentiment in the magnetic material market remains cautious, with limited room for price increases, leading to low purchasing enthusiasm, and enterprises are more cautious in their purchases.

NdFeB Scrap

Prices: Pr-Nd recycled from NdFeB scrap was quoted at 469-474 yuan/kg; dysprosium recycled from NdFeB scrap was quoted at 1,613-1,635 yuan/kg; terbium recycled from NdFeB scrap was quoted at 5,232-5,341 yuan/kg.

Supply and Demand: Last week, the overall purchasing enthusiasm in the scrap market increased, but sellers' attitudes towards offering goods became more conservative. Separation enterprises showed little interest in high-priced orders, while most traders tended to inquire about low-priced purchases and increased their stockpiling efforts, leading to tight supply of low-priced goods.