[SMM Rare Earth Morning Meeting Summary] Oxide Prices Jump Initially and Then Pull Back, Making High-Price Transactions Difficult in the Market

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SMM February 21 News:

Rare Earth Ore

Prices: The price of rare earth carbonate is approximately 35,200 yuan/mt, monazite is around 39,900 yuan/mt, and medium-yttrium, europium-rich ore standard ore is about 185,000 yuan/mt.

Supply and Demand: Currently, with a slightly tight supply of ore products, prices remain relatively stable, and market sentiment is dominated by a wait-and-see approach.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 442,000-445,000 yuan/mt, mainstream quotations for dysprosium oxide are in the range of 1.73-1.75 million yuan/mt, and terbium oxide prices have been adjusted to 6.15-6.2 million yuan/mt.

Supply and Demand: Yesterday, after a rapid surge, rare earth oxide prices gradually pulled back. Downstream buyers showed limited purchasing capacity, making high-priced raw material transactions challenging. Some suppliers proactively lowered their quotations.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 545,000-550,000 yuan/mt, the quotation for dysprosium-iron alloy has risen to 1.7-1.74 million yuan/mt, and terbium metal prices have also been adjusted to 7.66-7.7 million yuan/mt.

Supply and Demand: Metal enterprises reported that magnetic material enterprises showed weak purchase willingness. Amid rapidly rising prices, buyers were cautious, and most suppliers quoted based on oxides. High-price transactions in the market were limited.

Magnetic Materials

Prices: NdFeB blank prices—NdFeB blank N38 (Ce) closed at 145-155 yuan/kg; NdFeB blank 40M closed at 191-201 yuan/kg; NdFeB blank 40H closed at 195-205 yuan/kg; NdFeB blank 45SH (Ce) closed at 245-265 yuan/kg.

Supply and Demand: Yesterday, the rare earth market experienced significant price fluctuations. Magnetic materials adjusted quotations corresponding to Pr-Nd alloy, but overall market purchasing sentiment remained cautious, with minimal actual transactions. Market participants generally adopted a wait-and-see attitude.

NdFeB Scrap

Prices: PrNd recycled from NdFeB scrap closed at 457-469 yuan/kg; dysprosium recycled from NdFeB scrap closed at 1,608-1,635 yuan/kg; terbium recycled from NdFeB scrap closed at 5,109-5,178 yuan/kg.

Supply and Demand: Due to significant price fluctuations in oxides yesterday, some scrap enterprises slightly raised their quotations. However, the overall market remained cautious, with most enterprises opting to set prices and conduct transactions after price trends stabilize.