[SMM Rare Earth Morning Meeting Summary] The center of upstream transactions moved slightly downward, and downstream players continued to wait and see due to multiple factors

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SMM News on June 27:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 36,000 yuan/mt, monazite is priced at around 42,800 yuan/mt, and the standard ore price of medium-yttrium, europium-rich ore is approximately 190,500 yuan/mt.

Supply and Demand: Recently, due to climatic factors, imports of Myanmar ores have significantly decreased, and suppliers' willingness to sell has been weak.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 444,000-445,000 yuan/mt, the mainstream quotation range for dysprosium oxide is 1.61-1.62 million yuan/mt, and the quotation range for terbium oxide is around 7.07-7.1 million yuan/mt.

Supply and Demand: Yesterday, the overall rare earth oxide market remained slightly weak. Downstream buyers' inquiries were sluggish, and some suppliers reduced prices to sell a small amount. The center of gravity for medium-heavy rare earth oxide transactions has relatively significantly declined.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 543,000-547,000 yuan/mt, dysprosium-iron alloy is priced at around 1.56-1.58 million yuan/mt, and terbium metal is priced at approximately 8.8-8.85 million yuan/mt.

Supply and Demand: Yesterday, metal prices remained stable. Influenced by the firm quotations in the oxide market and some market participants' optimistic outlook on future prices, they were unwilling to sell at low prices. However, magnetic material enterprises, due to uncertain July orders, did not dare to blindly stockpile. Additionally, with metal prices at a high level, there was a strong wait-and-see sentiment, and market inquiries and transactions were sluggish.

NdFeB Blanks

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

Supply and Demand: Yesterday, magnetic material prices remained generally stable, and trading activity was similar to the previous day. On one hand, due to the rangebound fluctuations in upstream oxide and metal prices, terminal purchases of magnetic materials remained stable. On the other hand, influenced by policy factors, magnetic material factories and terminals generally adopted a wait-and-see attitude towards new orders, temporarily maintaining production of existing orders.

NdFeB Scrap

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

Supply and Demand: Yesterday, the scrap market remained stable. Prices were supported by the oxide market and remained high, with no significant fluctuations in trading volume compared to the previous day. The market operated smoothly.