SMM Rare Earth Morning Meeting Summary: Rare Earth Quotations Remain Firm, Back-and-Forth Negotiations Between Upstream and Downstream Stay Stable

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SMM April 2 News:

Rare Earth Ore

Prices: The price of rare earth carbonate is around 36,000 yuan/mt, monazite is around 42,200 yuan/mt, and medium-yttrium, europium-rich ore is 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. The trading atmosphere in the rare earth ore market remains sluggish.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is around 441,000-443,000 yuan/mt, the mainstream quotation range for dysprosium oxide is 1.65-1.67 million yuan/mt, and the quotation for terbium oxide has been adjusted to around 6.53-6.57 million yuan/mt.

Supply and Demand: Yesterday, the prices of rare earth oxides remained generally stable. The price of Pr-Nd oxide still experienced a slight decline, while dysprosium and terbium remained relatively stable. The activity of suppliers' offers was low, and the market trading atmosphere was sluggish.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 540,000-544,000 yuan/mt, the quotation for dysprosium-iron alloy is around 1.6-1.62 million yuan/mt, and the quotation for terbium metal is around 8.09-8.15 million yuan/mt.

Supply and Demand: Metal manufacturers' quotations remain firm, and rare earth metal prices have been relatively more stable recently. Suppliers' willingness to sell at low prices is low, downstream inquiry activity is poor, and the back-and-forth negotiations between upstream and downstream remain deadlocked. It is expected that rare earth prices will continue to remain stable in the near future.

NdFeB Blank

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

Supply and Demand: Currently, although order growth has not met expectations, the outlook for the magnetic materials market remains positive. However, due to sufficient inventory, the overall purchasing attitude in the market remains cautious.

NdFeB Scrap

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

Supply and Demand: Currently, the transaction prices in the scrap market have declined, mainly due to the cooling of the oxide market. High-priced scrap is under significant resistance, and most manufacturers are limited to just-in-time procurement. Existing inventory is relatively sufficient, and quotations have experienced a slight pullback.