[SMM Rare Earth Morning Meeting Summary] Rare earth prices hold up well, with downstream buyers mainly purchasing at lows

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SMM News on May 9:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 33,400 yuan/mt, monazite is priced at around 39,700 yuan/mt, and the standard ore price of medium-yttrium, europium-rich ore is about 180,500 yuan/mt.

Supply and Demand: Currently, the overall prices of rare earth ores are relatively stable. Both upstream and downstream players are showing significant wait-and-see sentiment, and market purchases are not active.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 417,000-419,000 yuan/mt. The mainstream quotation range for dysprosium oxide is 1.61-1.62 million yuan/mt, and the quotation for terbium oxide has been adjusted to around 7-7.05 million yuan/mt.

Supply and Demand: Yesterday, the overall prices of rare earth oxides held up well. Driven by news-related factors, suppliers significantly raised their quotations. Downstream players mainly bought on dips, and actual high-price transactions in the market were low.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 514,000-518,000 yuan/mt. The quotation for dysprosium-iron alloy is approximately 1.57-1.59 million yuan/mt, and the quotation for terbium metal is around 8.74-8.78 million yuan/mt.

Supply and Demand: Metal manufacturers continue to raise their quotations in line with the increase in oxide prices. However, from the perspective of magnetic material enterprises' purchasing, although the market quotation activity is high, downstream purchase willingness is not strong, and some market participants still show significant wait-and-see sentiment.

NdFeB Blanks

Prices: NdFeB blank N38 (Ce) is quoted at 135-145 yuan/kg; NdFeB blank 40M is priced at 178-191 yuan/kg; NdFeB blank 40H is quoted at 185-195 yuan/kg; NdFeB blank 45SH (Ce) is priced at 235-255 yuan/kg.

Supply and Demand: Yesterday, the overall prices in the metal market rose. Magnetic material enterprises had poor order-taking situations, and their acceptance of high-priced metals was average. Most of them mainly inquired about low prices and purchased on demand.

NdFeB Scrap

Prices: The price of Pr-Nd recycled from NdFeB scrap is quoted at 429-440 yuan/kg; the price of dysprosium recycled from NdFeB scrap is quoted at 1,584-1,606 yuan/kg; the price of terbium recycled from NdFeB scrap is quoted at 5,225-5,445 yuan/kg.

Supply and Demand: Yesterday, influenced by the upward trend in oxide market prices, the prices of terbium and Pr-Nd recycled from scrap both increased. However, market transactions were sluggish, and wait-and-see sentiment was strong.