[SMM Rare Earth Morning Meeting Summary] As the Labour Day holiday approaches, market inquiries are active

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SMM News on April 29:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 33,000 yuan/mt, monazite is priced at around 39,400 yuan/mt, and the standard ore price for medium-yttrium, europium-rich ore is about 179,500 yuan/mt.

Supply and Demand: Currently, rare earth ore prices are generally relatively stable. Both upstream and downstream players are adopting a wait-and-see attitude, and market purchases are not active.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 410,000-412,000 yuan/mt. The mainstream quotation range for dysprosium oxide is 1.6-1.61 million yuan/mt, and the quotation for terbium oxide has been adjusted to around 6.72-6.78 million yuan/mt.

Supply and Demand: Yesterday, due to restocking before the Labour Day holiday, market inquiry activity slightly increased. The quotation for Pr-Nd oxide warmed up again in the afternoon yesterday. However, most market participants still maintain a relatively strong wait-and-see attitude, and market purchases are relatively cautious. Today, the market has returned to normal.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 500,000-502,000 yuan/mt. The quotation for dysprosium-iron alloy is approximately 1.58-1.59 million yuan/mt, and the quotation for terbium metal is around 8.4-8.44 million yuan/mt.

Supply and Demand: Metal plant prices have been relatively firm recently. As the holiday approaches, market enthusiasm for shipping goods is not high. Due to the need for restocking before the holiday, downstream inquiry activity has increased, but acceptance of high-priced raw materials remains limited. It is expected that rare earth prices will not change significantly in the near future.

NdFeB Blanks

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

Supply and Demand: Driven by restocking activities before the Labour Day holiday, inquiry activity in the Pr-Nd market increased slightly yesterday afternoon. However, the restocking volume was relatively small. Due to uncertainties in the market outlook, a strong wait-and-see attitude still prevails, and most enterprises are making cautious purchases based on demand. NdFeB magnetic material prices have not fluctuated much. Magnetic material enterprises are steadily shipping goods under long-term contracts, while the spot order market has low inquiry activity due to insufficient demand.

NdFeB Scrap

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

Supply and Demand: Yesterday, NdFeB scrap prices continued to stabilize. Affected by the unimproved demand for upstream magnetic materials and the approaching Labour Day holiday, downstream oxide market enthusiasm for shipping goods is not high. It is difficult for scrap prices to change significantly in the short term.