[SMM Rare Earth Morning Meeting Summary] Market procurement remains sluggish, prices remain stable

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SMM News on May 28:

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 miners are still reluctant to sell their stocks, with low enthusiasm for shipping. This has made it difficult for separation plants to procure raw materials.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 433,000-434,000 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 7.15 million yuan/mt.

Supply and Demand: Yesterday, the overall price of rare earth oxides showed a slightly weak trend. Downstream purchase enthusiasm was low, and actual market transactions were relatively few. The price of Pr-Nd dropped back slightly, but the overall fluctuation range was relatively small.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 532,000-535,000 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: Yesterday, the overall price of rare earth metals remained relatively stable. Given the small fluctuation range of oxide prices, there was no significant change in metal prices overall. Downstream magnetic material enterprises had low purchase willingness, and the market sentiment of wait-and-see remained heavy.

NdFeB Blanks

Prices: The price of NdFeB blank N38 (Ce) is reported at 140-150 yuan/kg; the price of NdFeB blank 40M is reported at 186-196 yuan/kg; the price of NdFeB blank 40H is reported at 190-200 yuan/kg; and the price of NdFeB blank 45SH (Ce) is reported at 240-260 yuan/kg.

Supply and Demand: Yesterday, influenced by end-use demand, magnetic material enterprises adopted a strategy of purchasing as needed to consume inventory, showing low enthusiasm for metal purchases. With metal prices remaining high and stable, magnetic material enterprises, constrained by cost considerations, raised their blank quotations.

NdFeB Scrap

Prices: The price of Pr-Nd recycled from NdFeB scrap is reported at 451-462 yuan/kg; the price of dysprosium recycled from NdFeB scrap is reported at 1,610-1,621 yuan/kg; and the price of terbium recycled from NdFeB scrap is reported at 5,335-5,445 yuan/kg.

Supply and Demand: Yesterday, scrap prices remained stable. With small fluctuations in oxide prices, there was no change in scrap prices either. Market trading was average, and the wait-and-see sentiment remained strong.