[SMM Rare Earth Morning Meeting Summary] Prices of rare earth upstream products rose slightly, with the overall market remaining stable for the time being

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SMM News on June 24:

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 are reluctant 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: Yesterday, the quotations for rare earth oxides slightly increased, with low-priced supplies tightening. It is understood that currently, most market participants have high expectations for future rare earth oxide prices, but downstream demand remains weak, resulting in relatively small price fluctuations for rare earth oxides at the beginning of the week.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 543,000-547,000 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, metal quotations remained high and stable. Most market participants have high expectations for future prices and show strong reluctance to budge on prices. Affected by the wait-and-see sentiment in the market, the overall activity of trading offers and inquiries was average, and the actual trading volume in the market was limited.

NdFeB Blanks

Prices: NdFeB blank N38 (Ce) is quoted at 143-153 yuan/kg; NdFeB blank 40M is priced at 189-199 yuan/kg; NdFeB blank 40H is quoted at 193-203 yuan/kg; NdFeB blank 45SH (Ce) is priced at 243-263 yuan/kg.

Supply and Demand: Yesterday, the trading activity of magnetic materials recovered compared to last weekend. On the one hand, policy influences over the weekend led to fluctuations in market sentiment for magnetic materials, with some improvement in transactions for low-end orders. On the other hand, the subsequent stability of upstream metal prices encouraged downstream end-users to purchase magnetic materials in small quantities.

NdFeB Scrap

Prices: The price of Pr-Nd recycled from NdFeB scrap is quoted at 483-488 yuan/kg; the price of dysprosium recycled from NdFeB scrap is quoted at 1,610-1,621 yuan/kg; the price of terbium recycled from NdFeB scrap is quoted at 5,439-5,495 yuan/kg.

Supply and Demand: Yesterday, the scrap market operated with stable prices, mainly influenced by the increase in oxide market prices. Some market participants have high expectations for future prices, and the market is dominated by a wait-and-see sentiment, resulting in average actual trading volume.