Rare Earth Prices Rose Overall, Losses for Magnetic Material Companies Intensified [SMM Analysis]

Published: Sep 11, 2024 10:27

Source: SMM

Save

Last week, rare earth prices surged rapidly, with Pr-Nd oxide rising by 6.9%, dysprosium oxide by approximately 5%, and terbium oxide by 7.4%.

At the beginning of the week, China Northern Rare Earth increased its September listing prices. Pr-Nd oxide was priced at 403,200 yuan/mt, up 4.78% MoM from August 2024, while Pr-Nd alloy was priced at 500,000 yuan/mt, up 4.6% MoM from August 2024. Meanwhile, major magnetic material companies continued bidding for Pr-Nd alloy, increasing market demand for Pr-Nd and boosting expectations among holders, leading to a rapid rise in Pr-Nd quotations.

Due to increased downstream demand, inquiries for dysprosium and terbium products also rose. According to some mining and trading companies, auxiliary material exports are blocked, the duration of which is unclear, potentially impacting the operation of rare earth mines in Myanmar.

The rapid increase in rare earth prices has also triggered some market participants' concerns about high prices. It was understood that the order prices of downstream magnetic material companies remained low, intensifying losses. They remained cautious about purchasing high-priced rare earth materials, but holders' quotations were firm. With the peak season effect, SMM expects rare earth prices to continue fluctuating upward.

Market forecast Market review

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

12 hours ago

SMM Rare Earth Afternoon Trading Comment on September 14

12 hours ago

21 hours ago

Prices outside China remained stable this week, with the US-Brazil supply chain construction achieving both funding and project milestones [SMM Rare Earth Weekly Review]

This week, rare earth prices outside China remained broadly stable. Neodymium oxide and terbium oxide edged lower, while terbium metal bucked the trend and moved higher, reflecting rigid demand support for medium-heavy rare earths. In news, USAR's magnet plant in the US broke ground and integrated heavy rare earth resources from Brazil, with recycling projects advancing in parallel. In Brazil, IMC, BRE, and Viridis made intensive metallurgical breakthroughs at their ionic clay projects. On the financing side, Aclara secured a $750 million loan from the Export-Import Bank of the US, and JOGMEC increased its investment in Brazilian exploration, marking a shift in overseas supply chain competition toward "capital lock-in and delivery of separated capacity." Diversification of non-China supply is accelerating, but in the short term it still relies on policy support.

21 hours ago

[SMM Rare Earth Morning Meeting Summary] Pr-Nd series stopped rising and shifted to a stable weak balance, dysprosium series temporarily stable while terbium continued to decline, magnetic material activity was average

[Pr-Nd series stops rising and turns stable with a weak balance, dysprosium series temporarily stable while terbium continues to decline, magnetic material activity remains moderate] Last week, Pr-Nd oxide consolidated within a narrow range, with upstream and downstream temporarily in a weak balance, while demand-side inquiries and purchases remained cautious; dysprosium oxide quotes were stable, market inquiries saw limited changes, and transactions were mainly small orders for immediate needs; terbium oxide continued to decline, with higher prices still struggling to gain acceptance, suppliers increasing shipments at lower prices, and transactions mostly settling at low levels.

21 hours ago