[SMM Rare Earth Morning Meeting Summary] Rare earth prices drop back slightly, downstream transactions increase slightly

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SMM News on June 12:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 36,000 yuan/mt, monazite is priced at around 42,900 yuan/mt, and the price of medium-yttrium, europium-rich ore (standard grade) is about 191,000 yuan/mt.

Supply and Demand: Recently, suppliers at the ore end have been quoting firm prices under cost pressure, making it difficult to find low-priced ores in the rare earth market.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 444,000-446,000 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 overall prices of rare earth oxides continued to drop back slightly. However, based on the quotations from separation plants, the current prices have become relatively firm. Suppliers are unwilling to continue driving down prices to sell, and most market participants are adopting a wait-and-see attitude towards the future of rare earths. It is expected that rare earth prices will remain stable in the short term.

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, there was a slight correction in metal market prices, but overall market activity remained low, with weak enthusiasm for both offers and inquiries. Actual market transactions were limited, and a strong wait-and-see sentiment prevailed in the market. Upstream and downstream players are still in a stalemate.

NdFeB Blanks

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

Supply and Demand: Yesterday, the activity in the magnetic material trading market increased slightly compared to the previous day. The decline in oxide and metal prices was transmitted to magnetic material enterprises, reducing their raw material costs. However, due to the limited decline in upstream oxides and metals, magnetic material enterprises still face cost support, and the competitive situation for magnetic material enterprises remains unfavorable.

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 1,610-1,621 yuan/kg; the price of terbium recycled from NdFeB scrap is 5,439-5,495 yuan/kg.

Supply and Demand: Yesterday, influenced by the still high market prices of oxides, the scrap market prices remained high and stable. Trading activity in the scrap market was brisk, and market liquidity improved.