[SMM Rare Earth Morning Meeting Summary] Back-and-forth negotiations between upstream and downstream are intense, rare earth prices remain stable

》Check SMM's rare earth quotations, data, and market analysis

》Subscribe to view historical price trends of SMM's metal spot cargo

SMM News on May 19:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 35,100 yuan/mt, monazite is priced at around 41,300 yuan/mt, and the standard price of medium-yttrium, europium-rich ore is approximately 189,500 yuan/mt.

Supply and Demand: Recently, rare earth ore prices have increased compared to the previous period. Given the relatively high prices, miners are more reluctant to sell, and their willingness to ship goods is low.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 433,000-435,000 yuan/mt, the mainstream quotation range for dysprosium oxide is 1.64-1.65 million yuan/mt, and the quotation for terbium oxide has been adjusted to around 7.2-7.25 million yuan/mt.

Supply and Demand: Last Friday, rare earth oxide prices remained relatively stable. As the weekend approached, although market inquiry activity was low, suppliers' willingness to ship goods also decreased, with quotations remaining firm and few transactions occurring in the market.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 532,000-536,000 yuan/mt, the quotation for dysprosium-iron alloy is approximately 1.6-1.62 million yuan/mt, and the quotation for terbium metal is around 8.9-8.98 million yuan/mt.

Supply and Demand: Recently, due to the overall high prices of oxides and supported by cost factors, metal manufacturers' quotations have also remained firm. Downstream magnetic material enterprises mainly purchase on a need basis and buy the dip, with intense back-and-forth negotiations between upstream and downstream. The overall price trend of rare earth raw materials has remained stable.

NdFeB Blanks

Prices: NdFeB blank N38 (Ce) is quoted at 140-150 yuan/kg; NdFeB blank 40M is priced at 186-196 yuan/kg; NdFeB blank 40H is quoted at 190-200 yuan/kg; NdFeB blank 45SH (Ce) is priced at 240-260 yuan/kg.

Supply and Demand: As the weekend approached, market enthusiasm for procurement inquiries declined, and the market remained calm. Additionally, due to the lack of improvement in end-use demand and the off-season in the NdFeB industry, the order-taking situation of magnetic material enterprises has not improved.

NdFeB Scrap

Prices: The price of Pr-Nd recycled from NdFeB scrap is quoted at 462-468 yuan/kg; the price of dysprosium recycled from NdFeB scrap is quoted at 1,606-1,628 yuan/kg; the price of terbium recycled from NdFeB scrap is quoted at 5,335-5,445 yuan/kg.

Supply and Demand: Last Friday, scrap market prices remained stable. As the weekend approached, market inquiry activity was low, and scrap procurement did not improve due to the influence of the order-taking situation of magnetic material enterprises.