SMM Rare Earth Morning Meeting Summary: Downstream Purchasing Remains Cautious, Rare Earth Prices Encounter Resistance

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SMM April 1 News:

Rare Earth Ore

Prices: Rare earth carbonate prices were around 36,000 yuan/mt, monazite prices were around 42,200 yuan/mt, and medium-yttrium, europium-rich ore prices were around 188,000 yuan/mt.

Supply and Demand: Currently, suppliers of Myanmar ore still have a strong reluctance to sell, and the actual reserves of local inventory ore are not high, resulting in a sluggish trading atmosphere in the rare earth ore market.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide was around 442,000-444,000 yuan/mt, the mainstream quotation range for dysprosium oxide was 1.65-1.68 million yuan/mt, and terbium oxide prices were adjusted to around 6.52-6.58 million yuan/mt.

Supply and Demand: Yesterday, rare earth oxide prices began to stabilize overall. According to some metal enterprises, the downstream market finds it difficult to accept high-priced rare earth oxides, with low purchase willingness for Pr-Nd oxide above 443,000 yuan/mt; dysprosium oxide and terbium oxide products remained stable, with firm quotations from upstream suppliers.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy 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: At the beginning of the week, metal producers were not very active in offering goods, and downstream magnetic material enterprises were cautious in purchasing, resulting in overall stable rare earth metal prices. Some metal producers adjusted their quotations following oxide prices, but actual transaction performance was poor.

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: Currently, the trading activity in the magnetic material market is low. Due to significant fluctuations in raw material prices, the market trend remains unclear, and magnetic material enterprises are cautious in purchasing, mainly adopting a wait-and-see approach.

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: Currently, the scrap market prices are generally stable, with producers purchasing based on demand and showing low willingness to chase higher prices. The scarcity of low-priced sources in the market has put scrap enterprises under dual resistance.