[SMM Rare Earth Morning Meeting Summary] Rare earth market prices remain firm, with upstream transactions showing signs of recovery

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SMM News on June 23:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 35,900 yuan/mt, monazite is priced at around 42,600 yuan/mt, and the standard ore price of medium-yttrium, europium-rich ore is about 190,000 yuan/mt.

Supply and Demand: Recently, due to climatic factors, imports of Myanmar ore have significantly decreased, and suppliers holding ore stocks have shown weak willingness to sell.

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 1.62-1.64 million yuan/mt, and the quotation range for terbium oxide is around 7.12-7.18 million yuan/mt.

Supply and Demand: As the weekend approaches, prices of rare earth oxides have shown a clear warming trend. Driven by the combined effects of concentrated procurement by large downstream factories and suppliers' refusal to budge on prices, the price trend of rare earth oxides has strengthened. Market inquiry activity has also begun to increase since last week. Currently, most industry participants hold an optimistic view on the future prices of rare earths.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 544,000-548,000 yuan/mt, the price of dysprosium-iron alloy is approximately 1.57-1.58 million yuan/mt, and the price of terbium metal is around 8.8-8.85 million yuan/mt.

Supply and Demand: Last week, influenced by the rise in oxide prices and news developments, the metal market adjusted its quotations upwards. However, in the absence of new orders, downstream magnetic material enterprises reduced their demand for metal procurement. Market inquiries were sluggish, and overall trading activity was moderate.

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: Last week, the trading activity of magnetic materials declined somewhat. Due to the firm prices of upstream oxides and metals, the raw material costs of magnetic material enterprises have increased in the short term. However, there has been no significant increase in new downstream orders, and the intensified cut-throat competition in the domestic magnetic material market has not yet improved.

NdFeB Scrap

Prices: The price of Pr-Nd recycled from NdFeB scrap is reported at 483-483 yuan/kg; the price of dysprosium recycled from NdFeB scrap is reported at 1,610-1,621 yuan/kg; the price of terbium recycled from NdFeB scrap is reported at 5,439-5,495 yuan/kg.

Supply and Demand: Last week, influenced by the rise in oxide market prices, the price of Pr-Nd recycled from NdFeB scrap increased. Some industry participants are optimistic about the future market, showing a strong wait-and-see sentiment. Overall trading activity in the market was moderate.