[SMM Rare Earth Morning Meeting Summary] Costs Support Prices, with Stalemate in Upstream and Downstream of Rare Earth Industry

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SMM June 4 News:

Rare Earth Ore

Prices: Rare earth carbonate prices were around 35,200 yuan/mt, monazite prices were approximately 41,500 yuan/mt, and medium-yttrium, europium-rich ore standard prices were about 189,000 yuan/mt.

Supply and Demand: Recently, rare earth ore suppliers were reluctant to sell due to low ore prices, resulting in a sluggish trading atmosphere in the rare earth ore market, making raw material procurement difficult for separation plants.

Rare Earth Oxides

Prices: Pr-Nd oxide quotation ranges were around 437,000-439,000 yuan/mt, mainstream dysprosium oxide quotations ranged from 1.62-1.64 million yuan/mt, and terbium oxide prices adjusted to approximately 7.16-7.2 million yuan/mt.

Supply and Demand: Yesterday, rare earth oxide trends remained generally stable, with a sluggish trading atmosphere. Suppliers maintained firm quotations, but downstream inquiry willingness was weak. Metal plants faced severe price inversions and were unwilling to accept high prices.

Rare Earth Metals

Prices: Mainstream Pr-Nd alloy quotation ranges were 535,000-540,000 yuan/mt, dysprosium-iron alloy prices were around 1.58-1.59 million yuan/mt, and terbium metal prices were approximately 8.8-8.9 million yuan/mt.

Supply and Demand: Yesterday, metal plants showed low initiative in offering, and market activity was subdued. With oxide prices still relatively high, suppliers held firm quotations, but downstream magnetic material enterprises had limited acceptance of high prices, resulting in poor market transactions.

NdFeB Blank

Prices: NdFeB blank N38 (Ce) settled at 142-152 yuan/kg; NdFeB blank 40M prices settled at 188-198 yuan/kg; NdFeB blank 40H prices settled at 192-202 yuan/kg; NdFeB blank 45SH (ce) prices settled at 242-262 yuan/kg.

Supply and Demand: Yesterday, after the Dragon Boat Festival, the magnetic material market remained quiet, with low activity in offers and inquiries. Affected by end-use demand, magnetic material enterprises had average order-taking and adopted a purchasing-as-needed strategy with minimal restocking.

NdFeB Scrap

Prices: Pr-Nd recycled from NdFeB scrap settled at 472-477 yuan/kg; dysprosium recycled from NdFeB scrap settled at 1,610-1,621 yuan/kg; terbium recycled from NdFeB scrap settled at 5,439-5,495 yuan/kg.

Supply and Demand: Yesterday, the scrap market remained quiet, with no significant price changes due to the influence of the oxide market. Affected by end-use demand, NdFeB scrap became scarce, making it difficult for scrap prices to decline significantly in the short term.