[SMM Rare Earth Morning Meeting Summary] Suppliers Reduce Active Quotations as Market Sentiment Turns Cautious

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SMM January 3 News:

Rare Earth Ore

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

Supply and Demand: Currently, although Myanmar mines have resumed operations, 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 is 396,000-398,000 yuan/mt; the transaction range for dysprosium oxide is around 1.61 million yuan/mt, and terbium oxide quotations are approximately 5.58-5.64 million yuan/mt.

Supply and Demand: The current market quotation atmosphere appears quite subdued, with proactive quotations being rare. Most traders seem to have adopted a more conservative strategy. At present, most suppliers are in a wait-and-see state, while buyers are cautiously exploring the market dynamics.

Rare Earth Metals

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

Supply and Demand: The number of new orders from downstream industries has not shown significant growth. Most metal plants are adopting cautious strategies in their quotations, with a wait-and-see sentiment spreading across the industry. Metal trading has temporarily stalled, with all parties waiting for clearer market signals.

Magnetic Materials

Prices: NdFeB blank prices for NdFeB blank N35 (Ce) are quoted at 125-135 yuan/kg; NdFeB blank 38H prices are quoted at 170-180 yuan/kg.

Supply and Demand: Yesterday, the overall rare earth market remained stable. However, the atmosphere in the magnetic materials market is still subdued. As the Chinese New Year holiday approaches, most enterprises have shown reduced procurement enthusiasm, market activity is not robust, and downstream orders have not significantly increased. Enterprises' production enthusiasm is low, and the market overall is in a wait-and-see state.

NdFeB Scrap

Prices: NdFeB scrap Pr-Nd prices are quoted at 403-417 yuan/kg; NdFeB scrap dysprosium prices are quoted at 1,559-1,580 yuan/kg; NdFeB scrap terbium prices are quoted at 5,014-5,069 yuan/kg.

Supply and Demand: As the year-end approaches, low-priced spot supply in the scrap market has become tight due to payment cycle and cost factors. However, separation enterprises still have ample inventory. At this stage, they are mainly making just-in-time procurement and are not very interested in raising procurement prices.