[SMM Rare Earth Morning Meeting Summary] Confidence in the Rare Earth Market Declines, Light Rare Earth Prices Pull Back Slightly

Published: Mar 21, 2025 09:20

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SMM Rare Earth Morning Meeting Summary: Rare Earth Market Confidence Declines, Light Rare Earth Prices Pull Back Slightly Yesterday, market confidence in rare earth oxides declined, and pr-nd oxide prices pulled back slightly. However, overall, the price fluctuations of rare earth oxides were relatively small. News about the resumption of rare earth ore imports spread, but most industry players still dared not easily engage in market transactions.

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SMM News on March 21:

Rare Earth Ore Prices: The price of rare earth carbonate is around 36,000 yuan/mt, monazite at about 42,500 yuan/mt, and medium-yttrium, europium-rich ore at approximately 189,500 yuan/mt.

Supply and Demand: Currently, with news that imports from Myanmar are expected to resume, some market participants' sentiment has decreased, and there are signs of weakening in rare earth ore prices.

Rare Earth Oxide Prices: The quotation range for Pr-Nd oxide is about 443,000-445,000 yuan/mt, the mainstream quotations for dysprosium oxide are in the range of 1.67-1.7 million yuan/mt, and terbium oxide prices have been adjusted to around 6.55-6.6 million yuan/mt.

Supply and Demand: Yesterday, confidence in the rare earth oxide market declined, and Pr-Nd oxide prices pulled back slightly. However, overall, the fluctuation in rare earth oxide prices was relatively small. With the news of resuming rare earth ore imports, most traders remain hesitant to engage in market transactions.

Rare Earth Metal Prices: The mainstream quotations for Pr-Nd alloy are in the range of 543,000-545,000 yuan/mt, dysprosium-iron alloy at about 1.63-1.65 million yuan/mt, and terbium metal at approximately 8.1-8.15 million yuan/mt.

Supply and Demand: Yesterday, metal prices followed the slight weakness in oxides, but overall trading conditions remained poor. Downstream buyers were cautious, and inquiry activity was low.

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

Supply and Demand: Yesterday, rare earth prices remained stable. Due to orders not meeting expectations and order prices being significantly lower than the market average, purchasing enthusiasm among magnet manufacturers was suppressed, and market sentiment tended towards a wait-and-see attitude.

NdFeB Scrap Prices: PrNd recycled from NdFeB scrap was priced at 469-480 yuan/kg; dysprosium recycled from NdFeB scrap at 1,635-1,679 yuan/kg; terbium recycled from NdFeB scrap at 5,287-5,341 yuan/kg.

Supply and Demand: Yesterday, the overall quotations in the scrap market remained stable. Companies maintained their normal procurement pace, and supplies of low-priced materials tightened somewhat. Most buyers chose to purchase opportunistically, and trading volume increased slightly.

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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