[SMM Rare Earth Morning Meeting Summary] A small amount of transactions occurred in the upstream rare earth market, with the overall market remaining stable

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SMM News on June 17:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 35,900 yuan/mt, monazite is around 42,500 yuan/mt, and the standard price of medium-yttrium, europium-rich ore is about 190,000 yuan/mt.

Supply and Demand: Recently, suppliers of ores have maintained firm quotations under cost pressure, making it difficult to find low-priced ores in the rare earth market. Separation plants have shown weak purchase willingness, leading to a stalemate in back-and-forth negotiations between upstream and downstream parties.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 443,000-445,000 yuan/mt, the mainstream quotation range for dysprosium oxide is 1.62-1.63 million yuan/mt, and the quotation range for terbium oxide is around 7.1-7.15 million yuan/mt.

Supply and Demand: Yesterday, the overall market prices of rare earth oxides remained relatively stable, with a small volume of transactions for Pr-Nd oxide and dysprosium oxide. However, the terbium oxide market was relatively sluggish. Most suppliers maintained firm quotations, but metal enterprises were reluctant to purchase high-priced oxides due to losses in raw material costs.

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: Yesterday, the metal market performed steadily, with prices stopping falling and stabilizing. This was mainly influenced by the callback in the oxide market and the recovery in market transactions, leading to an improvement in the stalemate of negotiations. However, due to the lack of improvement in downstream orders, magnetic material enterprises showed low enthusiasm for restocking purchases.

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: Yesterday, the activity in the magnetic material trading market increased. Influenced by the upward adjustment of upstream oxide and metal prices, magnetic material enterprises faced increased cost pressure on raw materials. With no significant improvement in downstream orders, magnetic material enterprises were under dual pressure. However, many industry insiders indicated that with the depletion of terminal inventory, the subsequent order situation for magnetic materials would improve.

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: Yesterday, influenced by the callback in oxide prices, the scrap market prices operated steadily, with general inquiry activity. As oxide prices have corrected, some industry players are optimistic about the scrap market, with strong wait-and-see sentiment.