[SMM Rare Earth Morning Meeting Summary] Metal Quotations Pull Back, Deadlock Between Upstream and Downstream Continues

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SMM News on June 10:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 36,300 yuan/mt, the price of monazite is around 43,200 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 news factors 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 447,000-449,000 yuan/mt. The mainstream quotation range for dysprosium oxide is 1.64-1.66 million yuan/mt, and the quotation for terbium oxide has been adjusted to around 7.2-7.25 million yuan/mt.

Supply and Demand: Yesterday, the prices of medium-heavy rare earth oxides were generally strong, mainly due to the combined impact of rising ore costs and purchases by large factories. However, at the same time, the price of Pr-Nd oxide pulled back slightly amid the spread of fear of high prices 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 1.59-1.61 million yuan/mt, and the quotation for terbium metal is around 8.9-9 million yuan/mt.

Supply and Demand: Yesterday, the overall trading activity in the metal market was sluggish, with low inquiry activity. In the afternoon, metal factories took the initiative to lower their quotations, but downstream magnetic material factories still found it difficult to accept them, maintaining a stalemate. However, as oxide prices pull back, this stalemate is unlikely to last long.

NdFeB Blanks

Prices: NdFeB blank N38 (Ce) is quoted at 144-154 yuan/kg; NdFeB blank 40M is quoted at 190-200 yuan/kg; NdFeB blank 40H is quoted at 194-204 yuan/kg; NdFeB blank 45SH (Ce) is quoted at 244-264 yuan/kg.

Supply and Demand: Yesterday, the activity in the magnetic material trading market was average. Blank enterprises, constrained by the rising metal prices, continued to raise their quotations, but the order situation did not improve. Some enterprises believe that the magnitude of this round of price adjustments is limited and that prices will gradually pull back subsequently.

NdFeB Scrap

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

Supply and Demand: Yesterday, the scrap market prices remained stable. However, influenced by the pullback in the oxide market prices, there was a strong wait-and-see sentiment in the scrap market, and overall trading activity was average.