[SMM Rare Earth Morning Meeting Summary] Suppliers Hold a Strong Wait-and-See Sentiment, Market Trading Atmosphere Remains Subdued

Published: Dec 31, 2024 09:19

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[SMM Rare Earth Morning Meeting Summary: Suppliers Show Heavy Sentiment of Wait-and-See, Market Trading Atmosphere Remains Lukewarm] Yesterday, influenced by market news factors, suppliers showed a heavy sentiment of wait-and-see, with some separation plants offering firm quotes. Downstream buyers hesitated, the market trading atmosphere remained lukewarm, and oxide prices were relatively stable.

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SMM, December 31:

Rare Earth Ore

Prices: Rare earth carbonate prices were approximately 32,300 yuan/mt, monazite prices were around 36,800 yuan/mt, and medium-yttrium, europium-rich ore standard ore prices were about 170,000 yuan/mt.

Supply and Demand: Currently, although Myanmar ore imports have resumed, separation plants are adopting a wait-and-see sentiment, with weak purchase willingness.

Rare Earth Oxides

Prices: The mainstream quotation range for Pr-Nd oxide was 396,000-399,000 yuan/mt; the transaction range for dysprosium oxide was 1.6-1.61 million yuan/mt, and terbium oxide prices were approximately 5.58-5.64 million yuan/mt.

Supply and Demand: Yesterday, influenced by market news, suppliers exhibited a strong wait-and-see sentiment. Some separation plants maintained firm quotations, while downstream buyers hesitated, resulting in a sluggish market trading atmosphere. Oxide prices remained relatively stable.

Rare Earth Metals

Prices: The market transaction price for Pr-Nd alloy was approximately 488,000-492,000 yuan/mt, dysprosium-iron prices corresponding to oxide quotations were around 1.56-1.57 million yuan/mt, and terbium metal prices were about 6.95-7 million yuan/mt.

Supply and Demand: Yesterday, metal producers showed low quotation activity. As New Year's Day approaches, most participants exhibited weak willingness for inquiries and sales, leading to a subdued market purchasing atmosphere.

Magnetic Materials

Prices: NdFeB blank prices for NdFeB blank N35 (Ce) were recorded at 125-135 yuan/kg, while NdFeB blank 38H prices were recorded at 170-180 yuan/kg.

Supply and Demand: Yesterday, rare earth prices overall remained stable. The production status of the magnetic materials market was relatively stable, with no significant increase in short-term orders. Downstream demand remained weak, and it is expected that orders will not see substantial growth before the Chinese New Year.

NdFeB Scrap

Prices: NdFeB scrap Pr-Nd prices were recorded at 408-417 yuan/kg; NdFeB scrap dysprosium prices were recorded at 1,559-1,580 yuan/kg; NdFeB scrap terbium prices were recorded at 5,014-5,069 yuan/kg.

Supply and Demand: Yesterday, the overall scrap market situation remained relatively stable. Before the year-end, trading enterprises have started small-scale inquiries and inventory preparations but remain cautious about high prices. Meanwhile, producers have not changed their procurement strategies, focusing mainly on small-scale rigid demand purchases.

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.

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