[SMM Rare Earth Morning Meeting Summary] Multiple Factors Combine, Slow Recovery in Rare Earth Upstream Trading

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SMM News on June 20:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 35,600 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, under cost pressure, suppliers at the ore end have maintained firm quotations. Low-priced ores are hard to find in the rare earth market, and the purchase willingness of separation plants is weak, 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 440,000-444,000 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 7.1-7.15 million yuan/mt.

Supply and Demand: Yesterday, influenced by news factors and purchases from major manufacturers, suppliers' confidence significantly improved, leading to an increase in quotations. The inquiry activity of downstream buyers also increased, and the overall prices of rare earth oxides began to recover.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 538,000-541,000 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 8.8-8.85 million yuan/mt.

Supply and Demand: Yesterday, affected by the tendering for purchases from major manufacturers, the availability of low-priced goods in the market decreased. Additionally, the increase in oxide market prices drove suppliers to raise their quotations, leading to an increase in market inquiry activity and a recovery in the metal market.

NdFeB Blanks

Prices: 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.

Supply and Demand: Yesterday, the trading activity of magnetic materials was average. Due to the fluctuating rangebound prices of upstream metals, the overall raw material costs of magnetic material enterprises remained stable. As downstream end-users gradually entered the traditional off-season, some practitioners adopted a wait-and-see attitude towards subsequent orders.

NdFeB Scrap

Prices: The price of Pr-Nd recycled from NdFeB scrap is 477-483 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, the scrap market prices remained relatively stable. Influenced by the recovery in oxide market prices, magnetic material enterprises had low willingness to sell, and the scrap market was filled with a strong wait-and-see sentiment.