[SMM Rare Earth Morning Meeting Summary] The Rare Earth Market Remains Stable Overall, Downstream Procurement Remains Cautious

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SMM March 11 News:

Rare Earth Ore

Prices: Rare earth carbonate prices are approximately 35,900 yuan/mt, monazite prices are around 42,200 yuan/mt, and medium-yttrium, europium-rich ore benchmark prices are about 189,000 yuan/mt.

Supply and Demand: Currently, suppliers at the mining end remain reluctant to sell, while separation plants are not actively purchasing, leading to a pervasive market sentiment of wait-and-see.

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 1.7-1.71 million yuan/mt, and terbium oxide prices have been adjusted to around 6.5-6.55 million yuan/mt.

Supply and Demand: Yesterday, influenced by market news, inquiries for Pr-Nd became relatively active, prompting suppliers to raise their quotations slightly, resulting in a minor increase in Pr-Nd oxide prices. Prices for dysprosium and terbium oxides remained relatively stable, with minimal fluctuations.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 540,000-545,000 yuan/mt, dysprosium-iron alloy prices are approximately 1.64-1.66 million yuan/mt, and terbium metal prices are around 8.1-8.15 million yuan/mt.

Supply and Demand: Metal manufacturers adjusted their quotations slightly in line with oxide price fluctuations. Downstream magnetic material enterprises were cautious in their purchasing, resulting in limited actual trading volume in the market.

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, due to the influence of market news, inquiry activity in the magnetic material market increased. However, enterprises mainly adopted a purchasing-as-needed strategy, and market sentiment remained cautious.

NdFeB Scrap

Prices: PrNd recycled from NdFeB scrap closed at 458-480 yuan/kg; dysprosium recycled from NdFeB scrap closed at 1,635-1,679 yuan/kg; terbium recycled from NdFeB scrap closed at 5,287-5,341 yuan/kg.

Supply and Demand: Yesterday, quotations in the scrap market rose along with oxide prices. Suppliers generally raised their quotations, but due to weak purchase willingness from manufacturers, actual trading did not meet expectations.