Rare earth prices fluctuate rangebound, market activity declines [SMM Rare Earth Weekly Review]

June 19 News:

Rare Earth Ores:

Today, the price range of rare earth carbonate is 35,600-35,700 yuan/mt, monazite prices have adjusted to 42,000-42,400 yuan/mt, and the price of medium-yttrium, europium-rich ore is approximately 188,000-190,000 yuan/mt. Recently, due to weather impacts, the production of Myanmar ores has significantly decreased. Most ore suppliers have shown a strong reluctance to sell under these circumstances, and the processing fee deductions for ion-adsorption ore transactions have notably decreased. This situation is expected to be alleviated to some extent with the end of the rainy season in Southeast Asia.

Rare Earth Oxides:

Currently, the price of lanthanum oxide is temporarily stable at 4,200-4,800 yuan/mt, and the price of cerium oxide has temporarily stabilized at 10,000-11,800 yuan/mt this week. Recently, the overall price fluctuations of light rare earths have been relatively small. The price of Pr-Nd oxide has mainly fluctuated rangebound. Suppliers have maintained firm quotes given the high prices of raw materials, and factories have shown low willingness to sell at lower prices. Regarding medium-heavy rare earths, due to the impact of export controls, the demand for medium-heavy rare earth oxides has significantly decreased recently. The market trading atmosphere has been sluggish, and the prices of dysprosium oxide and terbium oxide have generally been in the doldrums. The price of yttrium oxide has continued to stabilize at 48,000-52,000 yuan/mt this week.

Rare Earth Metals:

This week, the price of Pr-Nd alloy has shown a fluctuating trend rangebound. This is mainly due to magnetic material enterprises receiving fewer orders than expected, leading to an overall decline in metal procurement demand. Their acceptance of high-priced metals has been average, with procurement mainly for immediate needs and restocking. However, as the market prices of oxides have pulled back, the cost support for metals has weakened, leading to a slight decrease in metal prices to a low level. Affected by the low metal prices, magnetic material enterprises have increased their inquiries and restocking at lower prices, resulting in an increase in market trading volume and a slight recovery in the price of Pr-Nd alloy. In contrast, the dysprosium-terbium market has seen weak price performance due to reduced market demand and a calm trading atmosphere.

Rare Earth Permanent Magnets:

The prices of NdFeB blanks are as follows: NdFeB blank N38 (Ce) is priced at 142-152 yuan/kg; NdFeB blank 40M is priced at 188-198 yuan/kg; NdFeB blank 40H is priced at 192-202 yuan/kg; NdFeB blank 45SH (Ce) is priced at 242-262 yuan/kg.

In the first half of this week, constrained by the slight pullback in upstream oxide and metal prices, magnetic material enterprises generally lowered their quotes for blanks and magnetic steel. Meanwhile, due to the slight fluctuations in upstream metal prices after Wednesday, the quotes for blanks from most magnetic material enterprises have shown a stable trend. Given the arrival of the traditional off-season for magnetic materials in the second half of June, the magnetic material market has reduced its trading frequency, with activity significantly lower WoW, and the demand for metal procurement has continued to decrease.

Rare Earth Scrap:

This week, the price of Pr-Nd recycled from NdFeB scrap was reported at 477-483 yuan/kg; the price of dysprosium recycled from NdFeB scrap was reported at 1610-1621 yuan/kg; and the price of terbium recycled from NdFeB scrap was reported at 5439-5495 yuan/kg.

This week, the scrap market prices were slightly in the doldrums. Mainly affected by the decline in oxide market prices, recycling enterprises lowered their quotes for scrap. Magnetic material enterprises, influenced by the weak scrap prices, had a generally low willingness to sell, leading to a decrease in the circulation of scrap in the market. Some industry participants were bullish on the future market outlook of rare earths, with a strong overall wait-and-see sentiment, and market activity declined WoW.

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