[SMM Rare Earth Morning Meeting Summary] Both supply and demand of rare earths are tight, with prices running smoothly

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SMM News on June 5:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 35,500 yuan/mt, the price of monazite is around 41,500 yuan/mt, and the price of medium-yttrium, europium-rich ore (standard grade) is about 189,000 yuan/mt.

Supply and Demand: Recently, due to news factors from Southeast Asia, the imports of ion-adsorption ore may decrease, and suppliers are more reluctant to sell.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 437,000-439,000 yuan/mt, the mainstream quotation range for dysprosium oxide is 1.62-1.63 million yuan/mt, and the quotation for terbium oxide has been adjusted to around 7.15-7.2 million yuan/mt.

Supply and Demand: Yesterday, the prices of rare earth oxides remained generally stable. Given the difficulty in purchasing raw materials by separation plants, their willingness to sell at low prices was low. With suppliers holding firm quotations, the price trend of oxides continued to remain stable.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 535,000-537,000 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 8.8-8.9 million yuan/mt.

Supply and Demand: Yesterday, due to weak purchase willingness from downstream magnetic material enterprises at high prices and relatively high inventory levels at metal plants, some suppliers slightly reduced prices to sell. However, supported by raw material costs, the decline in metal prices was relatively small, and market trading activity was sluggish.

NdFeB Blanks

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

Supply and Demand: Yesterday, the activity in the magnetic material market was low. Due to unimproved end-use demand and cost constraints from high-priced metals, the order volume of magnetic material enterprises was average, and overall market trading was weak.

NdFeB Scrap

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

Supply and Demand: Yesterday, influenced by the market prices of oxides, the scrap market prices remained high, and inquiry activity increased somewhat, but actual trading volume was average. Some market participants were bullish in the short term and had low willingness to sell.