[SMM Rare Earth Morning Meeting Summary] The rare earth market is polarized, and downstream demand remains sluggish

》Check SMM's rare earth quotations, data, and market analysis

》Subscribe to view historical price trends of SMM's metal spot cargo

SMM reported on June 30:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 36,000 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 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 7.05-7.1 million yuan/mt.

Supply and Demand: Last week, the price trends of light and heavy rare earths polarized. The price of Pr-Nd oxide remained firm due to news factors and purchases by major manufacturers. However, the prices of medium-heavy rare earths slightly declined due to continued sluggishness in downstream demand, with some suppliers selling at lower prices.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 542,000-546,000 yuan/mt, the quotation for dysprosium-iron alloy is approximately 1.56-1.58 million yuan/mt, and the quotation for terbium metal is around 8.8-8.83 million yuan/mt.

Supply and Demand: Last week, metal prices slightly weakened, mainly due to suppliers selling at lower prices to cash in at month-end. However, the mainstream quotations remained firm due to the influence of the oxide market. For medium-heavy rare earths, suppliers lowered their quotations to test market sentiment due to continued sluggishness in market demand.

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: Last week, magnetic material prices generally held steady, with average trading activity. On one hand, the steady to slightly declining prices of raw materials such as oxides and metals led magnetic material enterprises to adopt a wait-and-see attitude in procurement. On the other hand, core downstream motor enterprises of magnetic materials gradually entered the off-season, with spot order demand weakening.

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: Last week, the scrap market prices remained stable, mainly supported by the oxide market prices, with the market continuing to operate smoothly.