SMM Rare Earth Morning Meeting Summary: Rare Earth Prices in the Doldrums, Downstream Demand Remains Weak

Published: Apr 18, 2025 09:02
SMM Rare Earth Morning Meeting Summary: Rare Earth Prices in the Doldrums, Downstream Demand Weak. Yesterday, the prices of rare earth oxides were generally in the doldrums. With weak downstream demand, the activity of inquiries from buyers was also relatively low. Most industry players had unstable confidence in the future market, and some suppliers' willingness to sell at low prices increased.

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SMM April 18th news:

Rare earth ore

Prices: Rare earth carbonate prices were around 34,200 yuan/mt, monazite prices were around 42,100 yuan/mt, and medium-yttrium, europium-rich ore prices were around 187,000 yuan/mt.

Supply and demand: Currently, rare earth ore continues to be imported, but the purchasing situation at separation plants is poor, market sentiment is cautious, and ore product prices are relatively weak.

Rare earth oxides

Prices: The quotation range for Pr-Nd oxide was around 415,000-420,000 yuan/mt, the mainstream quotation range for dysprosium oxide was 1.65-1.67 million yuan/mt, and terbium oxide prices remained stable at around 7.16-7.25 million yuan/mt.

Supply and demand: Yesterday, rare earth oxide prices were generally in the doldrums. With poor downstream demand, the activity of inquiries from buyers was also relatively low, and most industry players had unstable confidence in the future market, with some suppliers showing increased willingness to sell at low prices.

Rare earth metals

Prices: The mainstream quotation range for Pr-Nd alloy was 517,000-520,000 yuan/mt, dysprosium-iron alloy prices were around 1.62-1.64 million yuan/mt, and terbium metal prices were around 8.9-9 million yuan/mt.

Supply and demand: Yesterday, Pr-Nd alloy prices continued to decline along with oxide prices. With poor order intake at magnetic material enterprises, the willingness to purchase raw materials was also weak, and the trading activity in the metal market was low.

NdFeB blank

Prices: NdFeB blank N38 (Ce) was quoted at 139-149 yuan/kg; NdFeB blank 40M was quoted at 185-195 yuan/kg; NdFeB blank 40H was quoted at 189-199 yuan/kg; NdFeB blank 45SH (ce) was quoted at 239-259 yuan/kg.

Supply and demand: Yesterday, upstream raw material prices continued to decline, downstream order situations were poor, and end-use demand in the market was weak. In the magnetic material market, small and medium-sized enterprises faced the dual impact of storage costs and continuously declining prices, with most accepting low-priced orders, resulting in inverted orders. However, large enterprises, with stable orders and capacity, were less affected by market price fluctuations.

NdFeB scrap

Prices: Pr-Nd recycled from NdFeB scrap was quoted at 436-447 yuan/kg; dysprosium recycled from NdFeB scrap was quoted at 1,625-1,645 yuan/kg; terbium recycled from NdFeB scrap was quoted at 5,182-5,282 yuan/kg.

Supply and demand: Currently, due to the market psychology of rushing to buy amid continuous price rise and holding back amid price downturn, downstream enterprises' purchasing enthusiasm is not high. Some traders actively sold during this period, leading to an increase in the trading volume of scrap in the market, but overall prices showed a downward trend.

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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