[SMM Rare Earth Morning Meeting Summary] Rare earth prices rise, with strong wait-and-see {{sentiment}}

Published: May 12, 2025 09:20

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[SMM Rare Earth Morning Meeting Summary: Rare Earth Quotations Rise, Wait-and-See Sentiment Prevails] Trading activity in the metal market is generally moderate. Downstream magnetic material enterprises show weak purchase willingness at high prices, mostly adopting a wait-and-see attitude and buying on dips. Suppliers mostly quote prices corresponding to oxides, but from the demand perspective, it is expected that metal prices may encounter resistance in rising.

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SMM News on May 12:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 34,200 yuan/mt, monazite is priced at around 40,500 yuan/mt, and the standard ore price of medium-yttrium, europium-rich ore is about 185,000 yuan/mt.

Supply and Demand: Recently, rare earth ore prices have seen a slight increase compared to the previous period. Miners' enthusiasm for selling is not high, and the purchasing enthusiasm of downstream separation plants is also relatively moderate.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 421,000-423,000 yuan/mt. The mainstream quotation range for dysprosium oxide is 1.63-1.65 million yuan/mt, and the quotation for terbium oxide has been adjusted to around 7.05-7.1 million yuan/mt.

Supply and Demand: Last week, rare earth oxide prices were generally strong. However, as the weekend approached, downstream purchase willingness was low, while suppliers' offer activity was high. The rare earth oxide market once again showed a weakening trend.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 515,000-520,000 yuan/mt. The quotation for dysprosium-iron alloy is approximately 1.58-1.6 million yuan/mt, and the quotation for terbium metal is around 8.75-8.8 million yuan/mt.

Supply and Demand: Trading activity in the metal market is generally moderate. Downstream magnetic material enterprises are not keen to purchase at high prices, mostly adopting a wait-and-see attitude and buying at lows. Suppliers mostly quote prices corresponding to oxides, but given the demand situation, it is expected that metal prices may encounter resistance in rising.

NdFeB Blanks

Prices: NdFeB blank N38 (Ce) is quoted at 136-146 yuan/kg; NdFeB blank 40M is priced at 182-192 yuan/kg; NdFeB blank 40H is quoted at 186-196 yuan/kg; NdFeB blank 45SH (Ce) is priced at 236-256 yuan/kg.

Supply and Demand: Last week, influenced by the continuous rise in metal market prices, magnetic material enterprises also raised their quotations for blanks. However, end-use demand did not improve, market trading was moderate, and there was a strong wait-and-see sentiment.

NdFeB Scrap

Prices: The price of Pr-Nd recycled from NdFeB scrap is quoted at 451-457 yuan/kg; the price of dysprosium recycled from NdFeB scrap is 1,584-1,606 yuan/kg; the price of terbium recycled from NdFeB scrap is 5,225-5,445 yuan/kg.

Supply and Demand: Last week, influenced by news factors, the market price of oxides continued to rise, driving up the price of Pr-Nd recycled from scrap. However, actual transactions in the market were moderate, and there was a strong wait-and-see sentiment.

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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