SMM Rare Earth Morning Meeting Summary: Rare Earth Prices Decline, Market Demand Remains Weak

Published: Apr 23, 2025 09:10

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SMM Rare Earth Morning Meeting Summary: Rare Earth Prices Decline, Market Demand Remains Weak. Yesterday, rare earth prices continued to decline overall, with terbium oxide prices falling rapidly. It is understood that traders' low-price shipments kept refreshing, and buyers exerted significant pressure to drive down prices. However, the overall trading volume in the market was not substantial, and some industry participants believe that prices will continue to drop.

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SMM April 23 News:

Rare Earth Ore

Prices: The price of rare earth carbonate is around 33,600 yuan/mt, monazite is around 41,700 yuan/mt, and medium-yttrium, europium-rich ore is around 183,000 yuan/mt.

Supply and Demand: Currently, the fluctuation range of rare earth ore products is relatively small. The price of rare earth ore fluctuates with the oxide market, and the purchasing activity of separation plants is not active. The overall price of rare earth ore is in the doldrums.

Rare Earth Oxides

Prices: The quotation range of Pr-Nd oxide is around 413,000-415,000 yuan/mt, the mainstream quotation range of dysprosium oxide is 1.62-1.64 million yuan/mt, and the quotation of terbium oxide remains stable at around 6.65-6.7 million yuan/mt.

Supply and Demand: Yesterday, rare earth prices continued to decline overall, with the price of terbium oxide falling rapidly. It is understood that traders' low-price shipments are constantly refreshing, and buyers are driving down prices with significant force. However, the overall market trading volume is not high, and some industry participants believe that prices will continue to fall.

Rare Earth Metals

Prices: The mainstream quotation range of Pr-Nd alloy is 511,000-513,000 yuan/mt, the quotation of dysprosium-iron alloy is around 1.61-1.62 million yuan/mt, and the quotation of terbium metal is around 8.5-8.55 million yuan/mt.

Supply and Demand: Due to the continuous decline in the price of oxide raw materials, the quotations of metal products by metal plants are also falling, with the quotation of terbium metal declining relatively quickly. It is understood that due to poor orders from magnetic material enterprises, downstream demand for raw materials is weak, and under the sentiment of rushing to buy amid continuous price rise and holding back amid price downturn, market inquiries are also relatively quiet.

NdFeB Blank

Prices: The price of NdFeB blank N38 (Ce) is 136-146 yuan/kg; the price of NdFeB blank 40M is 182-192 yuan/kg; the price of NdFeB blank 40H is 186-196 yuan/kg; the price of NdFeB blank 45SH (ce) is 236-256 yuan/kg.

Supply and Demand: Yesterday, the quotations of NdFeB blanks by downstream magnetic material plants did not show significant changes. Due to weak downstream demand and poor market orders, the strategy of purchasing as needed is widely adopted, and market sentiment is cautious. Currently, downstream players are focusing on the price trends of upstream metal oxides, waiting for further market information.

NdFeB Scrap

Prices: The price of Pr-Nd recycled from NdFeB scrap is 429-440 yuan/kg; the price of dysprosium recycled from NdFeB scrap is 1,606-1,628 yuan/kg; the price of terbium recycled from NdFeB scrap is 5,180-5,380 yuan/kg.

Supply and Demand: Yesterday, the price of NdFeB scrap did not show significant changes. After active shipments by traders, the market price of scrap has reached a low level, with low willingness to sell and reduced trading volume.

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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