[SMM Rare Earth Morning Meeting Summary] Oxide Prices Soar Rapidly, Downstream Procurement Remains Cautious

Published: Jan 14, 2025 09:10

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[SMM Rare Earth Morning Meeting Summary: Oxide Prices Soar Rapidly, Downstream Procurement Remains Cautious] Yesterday, driven by the tightening of market supply and speculative factors, the prices in the rare earth oxide market rose rapidly, with low-priced goods becoming scarce. Under these circumstances, some buyers were more cautious in their procurement, and the actual trading volume in the market remained average.

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SMM January 14 News:

Rare Earth Ore

Prices: Rare earth carbonate prices were approximately 32,500 yuan/mt, monazite prices were around 37,300 yuan/mt, and medium-yttrium, europium-rich ore standard ore prices were about 173,000 yuan/mt.

Supply and Demand: Currently, the mining market activity is low, suppliers show limited willingness to sell, spot cargo circulation is tightening, and overall trading remains sluggish.

Rare Earth Oxides

Prices: The mainstream quotation range for Pr-Nd oxide was 403,000-406,000 yuan/mt; dysprosium oxide trading range was around 1.63-1.65 million yuan/mt, and terbium oxide quotations were approximately 5.8-5.88 million yuan/mt.

Supply and Demand: Yesterday, due to the combined effects of tightened supply and speculative factors, rare earth oxide market prices rose rapidly, with low-priced sources becoming scarce. Some buyers were cautious under these circumstances, and actual market trading volume remained moderate.

Rare Earth Metals

Prices: The mainstream quotation for Pr-Nd alloy was approximately 495,000-500,000 yuan/mt, dysprosium-iron prices corresponding to oxide quotations were around 1.59-1.61 million yuan/mt, and terbium metal quotations were about 7.25-7.3 million yuan/mt.

Supply and Demand: Metal factories raised metal quotations in response to oxide price increases. However, due to magnetic material enterprises having previously taken orders at lower prices, their willingness to purchase was weak amid the rapid rise in metal prices.

Magnetic Materials

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

Supply and Demand: Yesterday, rare earth market quotations and inquiries became increasingly active. Some magnetic material enterprises, anticipating increased restocking pressure after the holiday due to recent positive news, showed stronger willingness to purchase at lower prices during the current phase.

NdFeB Scrap

Prices: NdFeB scrap Pr-Nd prices were reported at 420-425 yuan/kg; NdFeB scrap dysprosium prices were reported at 1,559-1,587 yuan/kg; NdFeB scrap terbium prices were reported at 5,087-5,123 yuan/kg.

Supply and Demand: Yesterday, scrap market prices showed an upward trend, with low-priced sources in the market decreasing. Most participants chose to retain their inventory in anticipation of a market uptrend after the holiday.

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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