【SMM Rare Earth Morning Meeting Summary】Market Sentiment Remains Cautious, Rare Earth Prices Stabilize

Published: Mar 28, 2025 09:49
SMM Rare Earth Morning Meeting Summary: Market Sentiment Heavily Watchful, Rare Earth Prices Stabilize. Currently, with relatively small fluctuations in raw material prices, metal plants have maintained relatively stable metal quotations. However, it is understood that downstream magnetic material enterprises are experiencing poor order situations, leading to relatively subdued metal demand under these circumstances.

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SMM March 28 News:

Rare Earth Ore

Prices: Rare earth carbonate prices were around 35,600 yuan/mt, monazite prices were around 42,200 yuan/mt, and medium-yttrium, europium-rich ore prices were around 186,000 yuan/mt.

Supply and Demand: Currently, ore-related news is mixed, separation plants have low purchasing enthusiasm, and ore suppliers' quotations remain firm.

Rare Earth Oxides

Prices: Pr-Nd oxide quotation range was around 440,000-442,000 yuan/mt, mainstream dysprosium oxide quotations ranged from 1.63-1.65 million yuan/mt, and terbium oxide quotations were adjusted to around 6.4-6.45 million yuan/mt.

Supply and Demand: Yesterday, the rare earth oxide market was relatively stable overall, producer quotations remained firm, low-priced spot cargo tightened, and downstream inquiry activity also saw a slight increase. However, most industry players still maintain a heavy wait-and-see sentiment, and rare earth prices are expected to remain relatively stable in the near term.

Rare Earth Metals

Prices: Mainstream Pr-Nd alloy quotations ranged from 540,000-542,000 yuan/mt, dysprosium-iron alloy quotations were around 1.6-1.61 million yuan/mt, and terbium metal quotations were around 8.03-8.09 million yuan/mt.

Supply and Demand: Currently, with relatively small fluctuations in raw material prices, metal producers' quotations are relatively stable. However, it is understood that downstream magnetic material enterprises' order situation is not good, and under such circumstances, metal demand is also relatively sluggish.

NdFeB Blank

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

Supply and Demand: Yesterday, mainstream rare earth product prices saw a slight rebound. Magnetic material enterprises' tentative inquiry activities increased significantly, but new magnetic material orders are still limited, and purchasing sentiment remains cautious.

NdFeB Scrap

Prices: Pr-Nd recycled from NdFeB scrap was quoted at 469-474 yuan/kg; dysprosium recycled from NdFeB scrap was quoted at 1,613-1,635 yuan/kg; terbium recycled from NdFeB scrap was quoted at 5,232-5,341 yuan/kg.

Supply and Demand: Currently, scrap prices have stabilized, overall purchasing enthusiasm has increased, and low-priced spot cargo in the market has gradually decreased. Although separation enterprises still maintain normal purchasing quotations, the difficulty of transactions has increased.

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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