[SMM Rare Earth Morning Meeting Summary] Rare earth prices continue to rise, and market trading activity has significantly increased

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SMM News on July 8:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 36,500 yuan/mt, monazite is priced at around 43,300 yuan/mt, and the standard ore price of medium-yttrium, europium-rich ore is approximately 193,000 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 expect prices to rise in the future.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 450,000-452,000 yuan/mt, the mainstream quotation range for dysprosium oxide is 1.65-1.66 million yuan/mt, and the quotation range for terbium oxide is approximately 7.16-7.2 million yuan/mt.

Supply and Demand: Yesterday, rare earth oxides continued to rise. Driven by expectations of reduced supply and purchases from large manufacturers, upstream suppliers continued to raise their quotations. Market inquiries were active, and most market participants believed that rare earth oxide prices would continue to fluctuate upward.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 550,000-555,000 yuan/mt, the quotation for dysprosium-iron alloy is approximately 1.59-1.61 million yuan/mt, and the quotation for terbium metal is approximately 8.85-8.9 million yuan/mt.

Supply and Demand: Yesterday, metal market prices continued to rise. On the one hand, this was due to the increase in oxide market prices, providing cost support for metals. On the other hand, the tendering situation of large magnetic material manufacturers provided demand support for the metal market, and overall market transactions were active.

NdFeB Blanks

Prices: NdFeB blank N38 (Ce) is priced at 145-155 yuan/kg; NdFeB blank 40M is priced at 191-201 yuan/kg; NdFeB blank 40H is priced at 195-205 yuan/kg; NdFeB blank 45SH (Ce) is priced at 245-265 yuan/kg.

Supply and Demand: Yesterday, magnetic material quotations rose slightly, and transaction activity remained the same as the previous day. On the one hand, due to the increase in upstream oxide and metal prices, magnetic material enterprises faced higher raw material procurement costs, leading to an increase in costs and forcing them to raise quotations. On the other hand, as the traditional off-season for end-users gradually approaches, new order signing from end-users has gradually decreased. However, due to policy factors and other reasons, magnetic material transactions remain stable.

NdFeB Scrap

Prices: The price of Pr-Nd recycled from NdFeB scrap is 488-494 yuan/kg; the price of dysprosium recycled from NdFeB scrap is 1,610-1,621 yuan/kg; the price of terbium recycled from NdFeB scrap is 5,439-5,550 yuan/kg.

Supply and Demand: Yesterday, scrap market prices rose, mainly influenced by the continuous increase in oxide market prices. Some market participants are optimistic about the future scrap market prices, leading to a strong wait-and-see sentiment and a decrease in the circulation volume of scrap in the market.