[SMM Rare Earth Morning Meeting Summary] Sentiment on rare earth speculation persists, orders remain stable, with continued deadlock between upstream and downstream

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SMM News on June 9:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 36,400 yuan/mt, the price of monazite is around 42,900 yuan/mt, and the price of medium-yttrium, europium-rich ore (standard grade) is about 192,000 yuan/mt.

Supply and Demand: Recently, due to factors related to news from Southeast Asia, imports of ion-adsorption ore may decrease. Suppliers are even more reluctant to sell, making it difficult to find low-priced cargo.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 448,000-450,000 yuan/mt. The mainstream quotation range for dysprosium oxide is 1.62-1.64 million yuan/mt, and the quotation for terbium oxide has been adjusted to around 7.17-7.2 million yuan/mt.

Supply and Demand: Last week, the prices of rare earth oxides generally held up well. Influenced by market speculation, suppliers continuously raised their quotations. However, downstream enterprises reported no significant improvement in their order situations and were unwilling to accept high-priced raw materials, resulting in low actual trading volumes in the market.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 548,000-550,000 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: Last week, metal prices continued to rise in line with market trends, but actual transactions in the market remain to be confirmed. Downstream magnetic material enterprises, facing no improvement in their order situations, found it difficult to accept high-priced metals. Consequently, the metal market experienced a stalemate in trading.

NdFeB Blanks

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

Supply and Demand: Last week, trading activity in the magnetic material market was low. Blank enterprises, constrained by rising metal prices, slightly increased their quotations. However, order situations did not improve, and competition among domestic blank market enterprises was fierce.

NdFeB Scrap

Prices: Pr-Nd recycled from NdFeB scrap is quoted at 483-488 yuan/kg; dysprosium recycled from NdFeB scrap is quoted at 1,610-1,621 yuan/kg; terbium recycled from NdFeB scrap is quoted at 5,439-5,495 yuan/kg.

Supply and Demand: Last week, driven by the continuous rise in oxide market prices, the price of Pr-Nd recycled from NdFeB scrap increased, and market inquiry activity rose. However, there is currently a stalemate between upstream and downstream players. Some market participants are adopting a wait-and-see attitude, awaiting further positive market news.