[SMM Rare Earth Morning Meeting Summary] Prices of rare earths in the upstream remain firm, with the overall market continuing to adopt a wait-and-see attitude

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SMM News on June 16:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 35,700 yuan/mt, monazite is around 42,300 yuan/mt, and the standard ore price of medium-yttrium, europium-rich ore is about 189,500 yuan/mt.

Supply and Demand: Recently, suppliers at the ore end have been offering relatively firm quotations 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 442,000-444,000 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 7.1-7.15 million yuan/mt.

Supply and Demand: Last week, towards the end of the week, the price of Pr-Nd oxide showed a slight rebound. According to some industry participants, with Pr-Nd prices falling to a low level and most suppliers being optimistic about the future market, it was difficult for prices to continue declining. Downstream purchase willingness increased, and the activity of market inquiries improved, leading to a slight increase in suppliers' quotations.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 542,000-545,000 yuan/mt, the quotation for dysprosium-iron alloy is approximately 1.57-1.58 million yuan/mt, and the quotation for terbium metal is around 8.8-8.9 million yuan/mt.

Supply and Demand: Last week, metal market prices continued to pull back, and influenced by metal tenders from large magnetic material enterprises, the activity of market inquiries increased, and market transactions recovered. However, some industry participants remained bearish on the market, with strong wait-and-see sentiment.

NdFeB Blanks

Prices: NdFeB blank N38 (Ce) was quoted at 143-153 yuan/kg; NdFeB blank 40M was quoted at 189-199 yuan/kg; NdFeB blank 40H was quoted at 193-203 yuan/kg; NdFeB blank 45SH (Ce) was quoted at 243-263 yuan/kg.

Supply and Demand: Last week, the activity in the magnetic material trading market was generally average. Although oxide and metal prices pulled back, they remained firm. The raw material costs for magnetic material enterprises decreased, but the decline was limited, and the overall trading situation was not optimistic.

NdFeB Scrap

Prices: Pr-Nd recycled from NdFeB scrap was quoted at 477-483 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: Last week, influenced by the continuous pullback in oxide prices, the scrap market prices decreased. However, with the recovery of transactions in the rare earth market, some industry participants remained bullish on the market in the long term, with strong wait-and-see sentiment.