[SMM Rare Earth Morning Meeting Summary] Rare earth prices continue to rise, with overall strong and stable operation

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SMM reported on July 9:

Rare earth ore

Prices: The price of rare earth carbonate is approximately 36,700 yuan/mt, the price of monazite is around 43,600 yuan/mt, and the standard price of medium-yttrium, europium-rich ore is approximately 193,500 yuan/mt.

Supply and demand: Recently, shipments of ion-adsorption ore have slightly increased, but the purchase willingness of separation plants remains weak, and the trading atmosphere in the ore sector is sluggish.

Rare earth oxides.

Prices: The quotation range for Pr-Nd oxide is approximately 453,000-455,000 yuan/mt, the mainstream quotation range for dysprosium oxide is 1.65-1.67 million yuan/mt, and the quotation range for terbium oxide is around 7.16-7.2 million yuan/mt.

Supply and demand: Yesterday, driven by the continuous procurement of large factories, suppliers held firm on their quotations for dysprosium oxide, and the price of Pr-Nd oxide continued to rise due to increased inquiry and procurement activity from downstream users. However, the market enthusiasm for terbium oxide was relatively low, and its price fluctuations were relatively small.

Rare earth metals

Prices: The mainstream quotation range for Pr-Nd alloy is 553,000-558,000 yuan/mt, the quotation for dysprosium-iron alloy is approximately 1.59-1.61 million yuan/mt, and the quotation for terbium metal is around 8.85-8.9 million yuan/mt.

Supply and demand: Yesterday, the metal market polarized, with Pr-Nd alloy prices continuing to rise, while medium-heavy rare earth metal prices remained stable. The rise in Pr-Nd alloy prices was due to demand support from concentrated procurement activities downstream, as well as cost support from the continuous increase in Pr-Nd oxide prices. Meanwhile, medium-heavy rare earth metals remained stable due to the downstream procurement focus being on the Pr-Nd alloy market, weak demand, and general market trading.

NdFeB blank

Prices: NdFeB blank N38 (Ce) is quoted at 146-156 yuan/kg; NdFeB blank 40M is quoted at 192-202 yuan/kg; NdFeB blank 40H is quoted at 196-206 yuan/kg; NdFeB blank 45SH (Ce) is quoted at 246-266 yuan/kg.

Supply and demand: Yesterday, magnetic material quotations increased slightly, and trading activity remained the same as the previous day. On the one hand, due to the continuous increase in upstream oxide and metal prices, magnetic material enterprises faced higher raw material procurement costs, leading to an inevitable increase in quotations. On the other hand, as export approval policies gradually accelerated, the polarization of magnetic material enterprises became more pronounced.

NdFeB scrap

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

Supply and demand: Yesterday, the scrap market operated steadily with stable prices. Affected by the continuous rise in the oxide market, some suppliers held onto their inventory and were reluctant to sell, resulting in generally moderate trading activity. There was a strong wait-and-see sentiment in the market, and the circulation of scrap in the market was somewhat hindered.