[SMM Rare Earth Morning Meeting Summary] Rare earth market remains stable overall, with upstream and downstream maintaining a wait-and-see attitude

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SMM News on July 3:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 36,000 yuan/mt, the price of monazite is around 42,600 yuan/mt, and the 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 suppliers' willingness to sell has been weak. Most market participants are bullish on the future market.

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 1.605-1.615 million yuan/mt, and the quotation range for terbium oxide is around 7.05-7.1 million yuan/mt.

Supply and Demand: Yesterday, the rare earth market remained stable with low trading activity. Most market participants reported that the rare earth market has been very quiet recently, and it is expected that rare earth prices will not fluctuate significantly in the short term.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 543,000-548,000 yuan/mt, the quotation for dysprosium-iron alloy is around 1.56-1.58 million yuan/mt, and the quotation for terbium metal is approximately 8.7-8.8 million yuan/mt.

Supply and Demand: Yesterday, metal prices remained stable, and market transactions were sluggish. Downstream magnetic material enterprises have low expectations for future prices, with average willingness to build inventory and stockpile. They mainly focus on just-in-time procurement, and the market sentiment is characterized by a strong wait-and-see attitude. It is expected that metal prices will not fluctuate significantly in the short term.

NdFeB Blanks

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

Supply and Demand: Yesterday, magnetic material prices remained generally stable, with trading activity similar to the previous day. On the one hand, due to the continued stability of oxide and metal raw material prices, a small amount of procurement was made based on demand for production. On the other hand, downstream motor enterprises are gradually entering the off-season, and new orders are gradually pulling back.

NdFeB Scrap

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

Supply and Demand: Yesterday, the scrap market continued to operate steadily, with some suppliers bullish on future prices and reluctant to sell. However, with scrap prices currently at a high level, the overall transaction situation has not been overly affected by the wait-and-see sentiment.