Intensified Back-and-Forth Negotiations Between Upstream and Downstream, Rare Earth Market Expected to Remain Stable in the Future [[SMM Rare Earth Weekly Review]]

May 8 news:

Rare earth ores:

Today, the price range of rare earth carbonate is 33,700-33,900 yuan/mt, the price of monazite has been adjusted to 39,800-40,200 yuan/mt, and the price of medium-yttrium, europium-rich ore is approximately 181,000-183,000 yuan/mt. Recently, Southeast Asia is about to enter the rainy season. According to ore-side enterprises, the subsequent supply of rare earth ores will decrease, and the prices of rare earth ores may show a warming trend.

Rare earth oxides:

Currently, the price of lanthanum oxide is temporarily stable at 4,200-4,800 yuan/mt, and the price of cerium oxide has been lowered to 10,400-12,000 yuan/mt this week. This week, the overall prices of lanthanum and cerium have slightly declined, with low purchasing activity in the downstream market. The price of Pr-Nd oxide has significantly increased this week. Separation enterprises and scrap recycling enterprises have indicated that due to the tight supply of rare earth ores and scrap, the overall quotes for rare earth oxides have increased. Meanwhile, the prices of dysprosium and terbium have also started to rise this week. In addition to the tight raw material supply, the advancement of export license processing by leading domestic magnetic material enterprises is also one of the main reasons for the upward trend in medium-heavy rare earth prices. The prices of gadolinium oxide and holmium oxide have also slightly rebounded this week, with a noticeable tightening of low-priced supplies in the rare earth oxide market. The price of yttrium oxide has temporarily stabilized at 50,000-52,000 yuan/mt this week.

Rare earth metals:

Within the week, the quotes from metal plants have slightly increased along with the oxides. It is understood that although the quotes for upstream oxides have increased and low-priced supplies are hard to find, the purchasing activity of downstream magnetic material enterprises remains poor. Some metal plants have already halted production and reduced output. Under these circumstances, the intensity of back-and-forth negotiations between upstream and downstream has significantly increased, and the overall trading volume in the metal market is poor. With the arrival of the off-season for NdFeB demand, it is expected that there will be a situation of weak supply and demand for rare earth metals in the future.

Rare earth permanent magnets:

The prices of NdFeB blanks are as follows: NdFeB blank N38 (Ce) is quoted at 135-145 yuan/kg; NdFeB blank 40M is quoted at 181-191 yuan/kg; NdFeB blank 40H is quoted at 185-195 yuan/kg; NdFeB blank 45SH (Ce) is quoted at 235-255 yuan/kg.

This week, the order-taking situation of magnetic material enterprises has still not shown significant improvement. Moreover, May is about to enter the traditional off-season for downstream NdFeB demand, and most industry participants remain pessimistic about the future market. However, from the perspective of upstream supply, the production of Pr-Nd alloy may start to decrease in May. Some enterprises have a strong wait-and-see sentiment regarding the future situation of rare earths, with weak willingness to purchase. It is expected that rare earth prices will remain stable in the short term.

Rare earth scrap:

This week, the price of Pr-Nd recycled from NdFeB scrap is quoted at 418-429 yuan/kg; the price of dysprosium recycled from NdFeB scrap is quoted at 1,617-1,639 yuan/kg; the price of terbium recycled from NdFeB scrap is quoted at 5,180-5,380 yuan/kg.

This week, amidst the poor order-taking situation of magnetic material enterprises, the output of scrap also decreased. Under such circumstances, scrap procurement became more difficult, and the prices of NdFeB scrap held up well overall this week.

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