[SMM Rare Earth Morning Meeting Summary] End-use demand weakens, market prices decline slightly

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SMM News on May 21:

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 price of medium-yttrium, europium-rich ore (standard grade) is about 189,500 yuan/mt.

Supply and Demand: Recently, rare earth ore prices have increased compared to the previous period. Miners are more reluctant to sell at higher prices, resulting in lower enthusiasm for shipping goods.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 425,000-427,000 yuan/mt, the mainstream quotation range for dysprosium oxide is 1.62-1.64 million yuan/mt, and the quotation for terbium oxide has been adjusted to around 7.15-7.18 million yuan/mt.

Supply and Demand: Yesterday, prices of rare earth oxides continued to decline slightly. Factories showed low enthusiasm for offering goods, while the downstream purchasing atmosphere remained sluggish. Some traders actively reduced prices to ship goods, leading to a downward shift in the overall transaction price center of the market.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 527,000-529,000 yuan/mt, the quotation for dysprosium-iron alloy is approximately 1.58-1.59 million yuan/mt, and the quotation for terbium metal is around 8.85-8.9 million yuan/mt.

Supply and Demand: Yesterday, metal factories exhibited a strong wait-and-see sentiment. Some suppliers chose to quote prices based on corresponding oxides. However, downstream magnetic material enterprises had low confidence in the future market, with weak inquiry and purchase willingness. Some market participants believed that rare earth prices would still experience a slight pullback.

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: Yesterday, metal market prices dropped slightly. Although the inquiry activity in the magnetic material market increased somewhat, actual trading volume did not improve significantly due to the influence of end-use demand.

NdFeB Scrap

Prices: The price of Pr-Nd recycled from NdFeB scrap is quoted at 457-462 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: Yesterday, due to the slight decline in oxide market prices, the price of Pr-Nd recycled from scrap also decreased. Currently, the scrap market is in a state of weak supply and demand.