[SMM Rare Earth Morning Meeting Summary] Pr-Nd alloy prices rise slightly, with strong wait-and-see sentiment in the market

Published: May 6, 2025 09:13

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【SMM Rare Earth Morning Meeting Summary: Pr-Nd Alloy Prices Rise Slightly, Market Sentiment Leans Towards Wait-and-See】Quotations from metal plants fluctuated slightly in line with oxides. Among them, the price of Pr-Nd alloy rose slightly due to high raw material costs and increased inquiries for downstream stocking, but the prices of dysprosium and terbium products remained weak. During the holiday, most metal plants operated normally. After the holiday, the wait-and-see sentiment was strong, and the market was temporarily calm.

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SMM News on May 6:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 33,300 yuan/mt, monazite is priced at around 39,400 yuan/mt, and the standard ore price of medium-yttrium, europium-rich ore is about 179,500 yuan/mt.

Supply and Demand: Currently, the overall prices of rare earth ores are relatively stable. Both upstream and downstream players are adopting a wait-and-see attitude, and market procurement is not active.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 411,000-413,000 yuan/mt. The mainstream quotation range for dysprosium oxide is 1.6-1.61 million yuan/mt, and the quotation for terbium oxide has been adjusted to around 6.72-6.78 million yuan/mt.

Supply and Demand: Before the holiday, there was a high level of inquiry activity in the rare earth market, and suppliers' quotations for Pr-Nd oxide were relatively high. However, downstream buyers still lack confidence in the market outlook and have limited acceptance of high-priced oxides. As a result, the actual transaction prices in the market did not see a significant increase.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 504,000-506,000 yuan/mt. The quotation for dysprosium-iron alloy is approximately 1.56-1.58 million yuan/mt, and the quotation for terbium metal is around 8.36-8.4 million yuan/mt.

Supply and Demand: The quotations of metal manufacturers fluctuate slightly with the oxides. The price of Pr-Nd alloy has slightly increased due to higher raw material costs and increased inquiry activity for downstream stockpiling. However, the prices of dysprosium and terbium products remain weak. During the holiday, most metal manufacturers operated normally. After the holiday, there was a strong wait-and-see sentiment in the market, which remained relatively calm.

NdFeB Blanks

Prices: The price of NdFeB blank N38 (Ce) is reported at 135-145 yuan/kg. The price of NdFeB blank 40M is reported at 178-191 yuan/kg (Note: There seems to be a typo in the original text "1781-191", which has been corrected to a reasonable range based on context). The price of NdFeB blank 40H is reported at 185-195 yuan/kg. The price of NdFeB blank 45SH (Ce) is reported at 235-255 yuan/kg.

Supply and Demand: Influenced by the peak in pre-holiday stockpiling, the inquiry enthusiasm in the downstream market has warmed up. Additionally, due to the slight increase in the price of Pr-Nd alloy, magnetic material enterprises have slightly raised the pricing of NdFeB blanks. However, as the magnetic material industry enters the off-season for taking orders, enterprises are adopting a strong wait-and-see attitude, and the market has not seen significant fluctuations.

NdFeB Scrap

Prices: The price of Pr-Nd recycled from NdFeB scrap is reported at 429-440 yuan/kg. The price of dysprosium recycled from NdFeB scrap is reported at 1,584-1,606 yuan/kg. The price of terbium recycled from NdFeB scrap is reported at 5,115-5,335 yuan/kg.

Supply and Demand: The oxide market has been influenced by the peak in pre-holiday restocking, leading to an increase in the procurement volume of Pr-Nd oxide. Meanwhile, due to poor order volumes from magnetic material enterprises, the circulation of Pr-Nd scrap in the market has decreased. Under the circumstances of reduced supply and increased demand, the market price of Pr-Nd scrap has seen a slight rebound.

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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