[SMM Rare Earth Morning Meeting Summary] Market Speculation Resurfaces, Prices Increase Slightly

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SMM News on May 22:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 34,700 yuan/mt, monazite is priced at around 41,200 yuan/mt, and the standard ore price of medium-yttrium, europium-rich ore is about 186,500 yuan/mt.

Supply and Demand: Recently, most rare earth ore suppliers are still reluctant to sell their stocks, with low enthusiasm for shipping, making it difficult for separation plants to procure raw materials.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 429,000-431,000 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 7.1-7.15 million yuan/mt.

Supply and Demand: Last week, towards the end of the week, quotations in the rare earth market generally increased. However, according to surveys, the downstream purchase volume did not improve. Some industry participants believe that this price increase was driven by speculation, and the outlook for the market remains pessimistic.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 525,000-532,000 yuan/mt, the quotation for dysprosium-iron alloy is approximately 1.57-1.58 million yuan/mt, and the quotation for terbium metal is around 8.75-8.85 million yuan/mt.

Supply and Demand: Given the relatively high cost of raw materials, metal plants have also slightly increased their quotations. It is understood that due to the relatively high tender prices of leading magnetic material enterprises last week, the confidence of some suppliers in refusing to budge on prices has been boosted, and the availability of low-priced goods in the market has tightened.

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: Last week, information about tenders from large plants circulated in the market. Most enterprises adopted a wait-and-see attitude towards the tender situation of large plants, awaiting the next market trend. Sentiment was cautious, and market prices remained stable.

NdFeB Scrap

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

Supply and Demand: Last week, influenced by tender information from large plants in the oxide market, prices rebounded somewhat. However, as the tender situation of large plants remains unclear, the market sentiment is cautious, and scrap prices have not fluctuated, with the market awaiting the next trend.