[SMM Rare Earth Morning Meeting Summary] The center of upstream rare earth transactions has risen, while the downstream market continues to wait and see

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SMM News on July 7:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 36,100 yuan/mt, the price of monazite is around 42,900 yuan/mt, and the price of standard medium-yttrium, europium-rich ore is about 191,000 yuan/mt.

Supply and Demand: Recently, due to climatic factors, the imports of Myanmar ores have declined. Suppliers of ores are not eager to sell, and most market participants are bullish on the future market.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 445,000-447,000 yuan/mt, the mainstream quotation range for dysprosium oxide is 1.64-1.65 million yuan/mt, and the quotation range for terbium oxide is around 7.1-7.14 million yuan/mt.

Supply and Demand: Last week, the enthusiasm for inquiries from downstream buyers significantly increased. The trading centers for dysprosium oxide and Pr-Nd oxide slightly shifted upwards, and the availability of low-priced goods tightened. However, metal factories were not eager to stock up, and the overall trading volume did not see a significant increase. Some market participants still maintained a wait-and-see attitude towards the future rare earth market.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 545,000-550,000 yuan/mt, the quotation for dysprosium-iron alloy is around 1.58-1.6 million yuan/mt, and the quotation for terbium metal is approximately 8.8-8.85 million yuan/mt.

Supply and Demand: Last week, the metal market prices saw a significant increase. Driven by the rise in oxide market prices, cost support was provided for metals. At the same time, several large magnetic material factories tendered for metals, providing demand support. The tender and bid activities in the market were active, and the overall wait-and-see sentiment was strong.

NdFeB Blanks

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

Supply and Demand: Last week, magnetic material prices generally remained stable, and trading activity recovered somewhat. On the one hand, due to the continuous stability of oxide and metal raw material prices, magnetic material enterprises produced based on demand. On the other hand, due to the impact of policies and the macro environment, the approval speed of export orders accelerated compared to the previous week, and magnetic material factories generally held a positive outlook on subsequent international orders.

NdFeB Scrap

Prices: The price of Pr-Nd recycled from NdFeB scrap closed at 483-488 yuan/kg; the price of dysprosium recycled from NdFeB scrap closed at 1,610-1,621 yuan/kg; the price of terbium recycled from NdFeB scrap closed at 5,439-5,495 yuan/kg.

Supply and Demand: Last week, the scrap market continued to maintain high prices. However, influenced by the rise in oxide market prices, some suppliers showed reluctance to sell, and scrap market purchases slowed down. The wait-and-see sentiment in the market was strong.