[SMM Analysis: How Will the Rare Earth Market Change Following the Surge in Wind Power Installations?] In May, new installations of wind power reached 26.32 GW, up eightfold YoY and fourfold MoM, bringing a total demand of 2,527 mt for NdFeB. According to the SMM survey, this change was mainly due to a shift in the pricing mechanism: on-grid tariffs for wind power projects commissioned after June 1 will be subject to market bidding, while the pricing mechanism for projects commissioned before June remains unchanged. Therefore, wind power companies rushed to install capacity in May to secure stable electricity price returns.

[SMM Rare Earth Daily Review: Suppliers Sell Off to Cash In, Rare Earth Prices Decline Slightly] Currently, rare earth market prices have seen a slight decline, primarily influenced by the price reductions and sell-offs by some suppliers near the month-end to cash in, leading to a decrease in market transaction prices. However, due to the difficulties in purchasing low-priced ore raw materials by separation plants, the quotes remain firm. Meanwhile, influenced by the price reductions of oxides in the metal market, some suppliers have also tentatively lowered their quotes. Nevertheless, recent tenders for Pr-Nd alloy by large magnetic material producers have provided some support for metal prices.

[SMM Rare Earth Morning Meeting Summary: The center of upstream transactions moved slightly downward, and downstream buyers continued to wait and see due to multiple factors] The overall rare earth oxide market remained slightly in the doldrums. Downstream buyers had sluggish inquiries, and some suppliers reduced prices to sell a small amount of goods. The center of transactions for medium-heavy rare earth oxides showed a relatively significant decline.

[SMM Rare Earth Weekly Review: Rare Earth Prices Remain Stable at High Levels, Market Trading Atmosphere Sluggish] Recently, the overall trend of light rare earth prices has been relatively stable. Although downstream procurement has not been active, separation enterprises remain optimistic about the future market under the influence of news factors and are unwilling to lower prices to sell goods. The price of Pr-Nd oxide generally operated around 444,000-446,000 yuan/mt during the week. For medium-heavy rare earths, due to relatively tight supply of raw materials for dysprosium and terbium products, their prices have also remained firm. Market transactions for dysprosium oxide and terbium oxide were poor during the week, but low-priced goods were still hard to find.

[SMM Weekly Review of Recycled Rare Earths: Rare Earth Scrap Prices Remain Stable at Highs, Market Inquiries and Trading Recover] This week, scrap market prices remained stable at highs, with the increase in oxide quotes last Friday having a positive impact on scrap prices. Supported by the oxide market quotes, scrap prices continued to fluctuate at highs this week. Market inquiry activity rebounded somewhat, with magnetic material enterprises' willingness to sell increasing, and the volume of scrap circulation increased WoW.