【SMM Rare Earth Morning Meeting Summary】Rare earth prices pull back, with poor confidence in the future market

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SMM News on April 29:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 33,200 yuan/mt, monazite is priced at around 39,500 yuan/mt, and the price of medium-yttrium, europium-rich ore (standard grade) is about 180,000 yuan/mt.

Supply and Demand: Currently, the overall prices of rare earth ores are relatively stable. Both upstream and downstream players are adopting a wait-and-see attitude, and market purchasing activity is not robust.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 408,000-410,000 yuan/mt. The mainstream quotations for dysprosium oxide are in the range of 1.6-1.61 million yuan/mt, and the quotations for terbium oxide have been adjusted to around 6.72-6.78 million yuan/mt.

Supply and Demand: Yesterday, amidst continued weak downstream demand, the enthusiasm for downstream purchasing diminished, leading to another pullback in the price of Pr-Nd oxide. Some suppliers remain pessimistic about the market outlook, expecting Pr-Nd prices to remain slightly weak in the short term.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 498,000-502,000 yuan/mt. The price of dysprosium-iron alloy is approximately 1.58-1.59 million yuan/mt, and the price of terbium metal is around 8.4-8.44 million yuan/mt.

Supply and Demand: Metal producers have recently adjusted their quotations slightly in line with fluctuations in oxide prices. However, market trading activity remains sluggish. As the market enters the off-season in May, demand is expected to remain weak. Some suppliers, lacking confidence, are selling at lower prices.

NdFeB Blanks

Prices: The price of NdFeB blank N38 (Ce) is reported at 133-143 yuan/kg. The price of NdFeB blank 40M is reported at 179-189 yuan/kg. The price of NdFeB blank 40H is reported at 183-193 yuan/kg. The price of NdFeB blank 45SH (Ce) is reported at 233-253 yuan/kg.

Supply and Demand: Yesterday, despite an increase in market inquiry activity and metal producers' intention to stand firm on quotes, end-use demand did not improve. Downstream acceptance of prices remained average, resulting in low actual trading volumes in the market. Most magnetic material enterprises continue to adopt a wait-and-see approach, focusing on purchasing as needed.

NdFeB Scrap

Prices: The price of Pr-Nd recycled from NdFeB scrap is reported at 424-435 yuan/kg. The price of dysprosium recycled from NdFeB scrap is reported at 1,584-1,606 yuan/kg. The price of terbium recycled from NdFeB scrap is reported at 5,115-5,335 yuan/kg.

Supply and Demand: Yesterday, NdFeB scrap prices remained stable. Given the unimproved demand for upstream magnetic materials and sluggish trading in the downstream oxide market, scrap prices are unlikely to see significant changes in the short term.