[SMM Rare Earth Morning Meeting Summary] Chinese New Year Holiday Approaching, Market Trading Stagnates

Published: Jan 24, 2025 09:22
[SMM Rare Earth Morning Meeting Summary: Market Trading Stalls as Chinese New Year Holiday Approaches] As the Chinese New Year holiday approaches, most separation enterprises have ceased quoting and shipping, logistics operations have largely stopped, and traders' quoted prices remain high, resulting in sluggish market trading activity.

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SMM January 24 News:

Rare Earth Ore

Prices: Rare earth carbonate prices are approximately 33,600 yuan/mt, monazite prices are approximately 38,300 yuan/mt, and medium-yttrium, europium-rich ore standard ore prices are approximately 177,500 yuan/mt.

Supply and Demand: Currently, as the year-end approaches, suppliers at the mining end show low willingness to sell, and market trading activity remains sluggish.

Rare Earth Oxides

Prices: The mainstream quotation range for Pr-Nd oxide is 415,000-417,000 yuan/mt; the transaction range for dysprosium oxide is around 1.67-1.69 million yuan/mt, and terbium oxide quotations are approximately 5.92-5.96 million yuan/mt.

Supply and Demand: As the Chinese New Year holiday approaches, most separation enterprises have ceased quoting and shipping, and logistics operations have largely stopped. Traders' quoted prices are relatively high, and market trading activity remains sluggish.

Rare Earth Metals

Prices: The mainstream quotation for Pr-Nd alloy is approximately 508,000-515,000 yuan/mt, dysprosium-iron prices corresponding to oxide quotations are around 1.6-1.63 million yuan/mt, and terbium metal quotations are approximately 7.4-7.43 million yuan/mt.

Supply and Demand: The market departments of metal factories are mostly on holiday, resulting in a significant reduction in active quotations. The circulation of spot metal products has further tightened.

Magnetic Materials

Prices: NdFeB blank prices are 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; NdFeB blank 45SH (Ce) at 233-253 yuan/kg.

Supply and Demand: Currently, most magnetic material enterprises have ceased external quotations and are gradually halting production for the holiday. Although some enterprises continue production to rush to deliver orders, overall market trading activity is low, and the atmosphere is relatively subdued.

NdFeB Scrap

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

Supply and Demand: Many regions have entered holiday mode, and traders are only making small emergency purchases at the year-end stage, with limited actual transaction volumes. Many separation enterprises have currently suspended quotations, relying mainly on consuming existing inventory while observing post-holiday market trends. Market trading has come to a standstill.

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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[SMM Rare Earth Morning Meeting Summary] Chinese New Year Holiday Approaching, Market Trading Stagnates - Shanghai Metals Market (SMM)