[SMM Rare Earth Morning Meeting Summary] Limited Transactions in Rare Earth Market, Intense Game Between Upstream and Downstream

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SMM News on June 11:

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 are expected to 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 447,000-448,000 yuan/mt, the mainstream quotation range for dysprosium oxide is 1.63-1.65 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 rare earth oxides pulled back slightly overall. However, according to feedback from separation plants, most suppliers are still unwilling to offer cargo at low prices. Some market participants remain optimistic about the future prices of rare earths, and trading volume in the market is relatively small.

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 metal market remained stable with no price fluctuations. Supported by oxide costs, metal prices remained high. Trading volume in the market was limited, and there was intense back-and-forth negotiation between upstream and downstream, maintaining a stalemate.

NdFeB Blanks

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

Supply and Demand: Yesterday, the activity in the magnetic material trading market was poor. Blank enterprises, constrained by metal cost support, maintained high quotations, but order conditions have not yet improved. Some enterprises expect that blank quotations will gradually pull back in the future.

NdFeB Scrap

Prices: Pr-Nd recycled from NdFeB scrap was quoted at 483-488 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, the oxide market operated smoothly, driving scrap market prices to remain high and stable. There was intense back-and-forth negotiation between upstream and downstream, and the scrap market had a strong wait-and-see sentiment.