[SMM Rare Earth Morning Meeting Summary] Rare earth prices remain stable with a slight decline, upstream and downstream manufacturers continue to wait and see

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SMM News on June 19:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 35,500 yuan/mt, monazite is priced at around 42,200 yuan/mt, and the standard ore price of medium-yttrium, europium-rich ore is about 189,000 yuan/mt.

Supply and Demand: Recently, suppliers at the ore end 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, resulting in a stalemate in back-and-forth negotiations between upstream and downstream.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 438,000-440,000 yuan/mt, the mainstream quotation range for dysprosium oxide is 1.61-1.63 million yuan/mt, and the quotation range for terbium oxide is around 7.08-7.12 million yuan/mt.

Supply and Demand: Yesterday, the overall prices of rare earth oxides remained slightly weak. Upstream separation plants were not actively offering cargo, and some traders were still selling at low prices. Overall, the price of Pr-Nd has gradually stabilized driven by purchases from large plants, but the prices of medium-heavy rare earth oxides remained in the doldrums due to poor demand.

Rare Earth Metals

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

Supply and Demand: Yesterday, the metal market prices were slightly weak. Due to the continuous decline in oxide market prices, the cost support has weakened. Additionally, magnetic material orders fell short of expectations, leading to a slowdown in metal purchases. Some metal plants lowered their quotations to test market sentiment, but overall trading was sluggish, with a strong wait-and-see sentiment.

NdFeB Blanks

Prices: NdFeB blank N38 (Ce) is quoted at 142-152 yuan/kg; NdFeB blank 40M is priced at 188-198 yuan/kg; NdFeB blank 40H is quoted at 192-202 yuan/kg; NdFeB blank 45SH (Ce) is priced at 242-262 yuan/kg.

Supply and Demand: Yesterday, trading in the magnetic material market declined slightly. Affected by the downward adjustment of upstream oxide and metal prices, the raw material costs of magnetic material enterprises have slightly decreased. However, due to weak new orders, magnetic material plants' metal purchases fell short of expectations, and some practitioners temporarily adopted a wait-and-see attitude.

NdFeB Scrap

Prices: Pr-Nd recycled from NdFeB scrap is quoted at 477-483 yuan/kg; dysprosium recycled from NdFeB scrap is priced at 1,610-1,621 yuan/kg; terbium recycled from NdFeB scrap is quoted at 5,439-5,495 yuan/kg.

Supply and demand: Yesterday, the scrap market was in the doldrums. Due to the decline in oxide market prices, overall market transactions were hindered. However, influenced by the gradual stabilization of upstream Pr-Nd oxide prices, some suppliers had strong wait-and-see sentiment, awaiting a rebound in market prices.