SMM reported on June 30: In this month, rare earth prices generally fluctuated rangebound. As of today, the price of Pr-Nd oxide has only increased by 1.5% compared to the beginning of the month. Since the start of the month, due to the impact of policy-related news, upstream suppliers have significantly raised their quotes for Pr-Nd products. However, the downstream demand side has not kept pace with the rapid price increase. With downstream buyers refusing to accept high-priced goods, the price of Pr-Nd began to show a downward correction trend in mid-month. But in the latter half of the month, due to the combined effects of long-term agreement deliveries at month-end, frequent tenders by large magnetic material manufacturers, and procurement by leading northern manufacturers, upstream suppliers' market confidence strengthened, and their quotes became more firm. As a result, the price trend of Pr-Nd was relatively stable in the latter half of the month.
From the perspective of medium-heavy rare earths, the price trend of dysprosium and terbium products generally remained in the doldrums this month. Among them, the price of dysprosium oxide decreased by 0.9% compared to the beginning of the month, and the price of terbium oxide decreased by 1.3% compared to the beginning of the month. This is due to the export controls on medium-heavy rare earths, which have led to a continuous sluggishness in downstream demand for dysprosium and terbium products. According to a certain metal enterprise, due to the export controls on NdFeB containing dysprosium and terbium, magnetic material manufacturers have significantly reduced their procurement volume of dysprosium and terbium metal products. With poor sales of dysprosium-iron alloy and terbium metal, metal manufacturers have also reduced their procurement volume of dysprosium oxide and terbium oxide.
Judging from the current market situation, most industry participants believe that the order situation for NdFeB will start to improve from the latter half of July. Before that, due to the continued weak state of both supply and demand in the rare earth market, rare earth prices will continue to fluctuate rangebound in the first half of July. However, with the recovery of demand, rare earth prices may show an upward trend at the end of July.
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