[SMM Rare Earth Morning Meeting Summary] Both supply and demand in the rare earth market are weak, with prices generally remaining stable

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SMM News on July 1:

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 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 decreased, and ore suppliers have shown limited willingness to sell. Most market participants expect prices to rise in the future.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 444,000-446,000 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: Yesterday, the overall rare earth oxide market was sluggish, with relatively small price fluctuations. Suppliers held firm on their initial quotations for the week, while downstream inquiries were mainly exploratory, and actual trading volume remained sluggish.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 542,000-548,000 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 8.75-8.83 million yuan/mt.

Supply and Demand: Yesterday, metal prices continued to be in the doldrums, mainly due to weak demand for medium-heavy rare earths. Suppliers lowered their quotations, but downstream inquiries remained generally tepid, and actual transactions were sluggish. Pr-Nd alloy prices were strongly supported by the oxide segment, with suppliers showing strong reluctance to budge on prices.

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, with trading activity slightly recovering. On one hand, due to the steady decline in prices of raw materials such as oxides and metals, magnetic material enterprises restocked according to demand to maintain normal order production. On the other hand, downstream expectations for July were positive, with spot orders increasing slightly.

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, influenced by the firm quotations in the oxide market, scrap quotations remained high, and market transactions operated smoothly.