[SMM Rare Earth Morning Meeting Summary] Market Trading Activity Declines, Oxide Prices Drop Back Slightly

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SMM January 17 News:

Rare Earth Ore

Prices: Rare earth carbonate prices were approximately 33,200 yuan/mt, monazite prices were around 38,300 yuan/mt, and medium-yttrium, europium-rich ore standard ore prices were about 176,500 yuan/mt.

Supply and Demand: Currently, the activity in the mining market is relatively low, suppliers show limited willingness to sell, and the supply of rare earth raw materials appears slightly tight.

Rare Earth Oxides

Prices: The mainstream transaction range for Pr-Nd oxide was 408,000-410,000 yuan/mt; dysprosium oxide traded in the range of approximately 1.66-1.665 million yuan/mt, and terbium oxide was quoted at around 5.9-5.95 million yuan/mt.

Supply and Demand: Yesterday, rare earth oxide prices began to drop back slightly as rare earth demand gradually weakened before the holiday. The activity in quotations and inquiries in the rare earth market significantly declined, and the trading volume of rare earth oxides and metal products decreased. Some suppliers proactively sold at lower prices to seize the last few days of sales opportunities.

Rare Earth Metals

Prices: The mainstream quotations for Pr-Nd alloy were approximately 502,000-508,000 yuan/mt, dysprosium-iron prices corresponding to oxide quotations were around 1.59-1.61 million yuan/mt, and terbium metal was quoted at approximately 7.32-7.38 million yuan/mt.

Supply and Demand: Starting from this weekend, small metal factories are expected to begin holiday shutdowns, while large metal enterprises will maintain normal production. However, as logistics operations are expected to gradually halt next week, market trading sentiment will become even more subdued.

Magnetic Materials

Prices: NdFeB blank prices were as follows: NdFeB blank N38 (Ce) at 133-143 yuan/kg; NdFeB blank 40M at 179-189 yuan/kg; NdFeB blank 40H at 183-193 yuan/kg; and NdFeB blank 45SH (Ce) at 233-253 yuan/kg.

Supply and Demand: Yesterday, rare earth prices remained generally stable. As the Chinese New Year holiday approaches, the magnetic material market appears relatively quiet. Although a few large enterprises will continue production during the holiday, most companies plan to halt operations around January 20. Currently, overall purchase willingness is weak, and companies generally hold a wait-and-see attitude toward future market trends.

NdFeB Scrap

Prices: NdFeB scrap Pr-Nd prices were reported at 431-436 yuan/kg; NdFeB scrap dysprosium prices were 1,559-1,587 yuan/kg; and NdFeB scrap terbium prices were 5,087-5,123 yuan/kg.

Supply and Demand: Before the holiday, scrap supply is relatively tight. Most traders choose to stockpile and wait for better prices or temporarily suspend operations, leading to reduced spot cargo circulation in the market. Separation enterprises are facing greater difficulties in procurement recently, relying mainly on consuming inventory to sustain operations.