[SMM Rare Earth Morning Meeting Summary] Back-and-forth negotiations between upstream and downstream are intense, prices remain stable for the time being

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SMM News on May 23:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 35,100 yuan/mt, monazite is priced at around 41,200 yuan/mt, and the standard ore price of medium-yttrium, europium-rich ore is about 185,500 yuan/mt.

Supply and Demand: Recently, rare earth ore prices have pulled back somewhat, but most miners are still reluctant to sell their holdings, with low enthusiasm for shipping goods.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 428,000-429,000 yuan/mt, the mainstream quotation range for dysprosium oxide is 1.61-1.63 million yuan/mt, and the quotation for terbium oxide has been adjusted to around 7-7.08 million yuan/mt.

Supply and Demand: Yesterday, rare earth oxide prices remained generally stable overall. Supported by costs, low-priced supplies were hard to find in the market, and back-and-forth negotiations between upstream and downstream were intense. Most market participants remain pessimistic about the future prices of rare earths.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 525,000-529,000 yuan/mt, dysprosium-iron alloy is priced at around 1.57-1.58 million yuan/mt, and terbium metal is quoted at approximately 8.75-8.8 million yuan/mt.

Supply and Demand: With relatively small fluctuations in upstream oxides, metal plant quotations have also remained relatively stable. Market transactions are still sluggish. Although some magnetic material enterprises have replenished their stocks in small quantities, the high prices of metal products still make it difficult to close deals. It is expected that rare earth prices will continue to hold steady in the near future.

NdFeB Blanks

Prices: NdFeB blank N38 (Ce) is quoted at 139-149 yuan/kg; NdFeB blank 40M is priced at 185-195 yuan/kg; NdFeB blank 40H is quoted at 189-199 yuan/kg; NdFeB blank 45SH (Ce) is priced at 239-259 yuan/kg.

Supply and Demand: Yesterday, the blank market was quiet, with general trading activity and a strong wait-and-see sentiment. Due to the lack of significant improvement in end-use demand, market confidence has been somewhat dampened. Some market participants believe that prices may be in the doldrums in the future.

NdFeB Scrap

Prices: Pr-Nd recycled from NdFeB scrap is quoted at 451-462 yuan/kg; dysprosium recycled from NdFeB scrap is priced at 1,606-1,628 yuan/kg; terbium recycled from NdFeB scrap is quoted at 5,335-5,445 yuan/kg.

Supply and Demand: Yesterday, the oxide market intended to refuse to budge on prices, maintaining stability, which drove the scrap market prices to stabilize. Trading activity in the market was sluggish, with a strong wait-and-see sentiment. However, influenced by end-use demand, it is expected that scrap prices will be in the doldrums in the short term.