[SMM Rare Earth Morning Meeting Summary] Peak demand has temporarily ended, and the overall rare earth market remains stable

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SMM July 10 News:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 36,700 yuan/mt, the price of monazite is around 43,700 yuan/mt, and the price of medium-yttrium, europium-rich ore (standard grade) is about 194,000 yuan/mt.

Supply and Demand: Recently, shipments of ion-adsorption ore have slightly increased, but the purchase willingness of separation plants remains weak, resulting in a sluggish trading atmosphere in the ore market.

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 1.66-1.69 million yuan/mt, and the quotation range for terbium oxide is around 7.16-7.2 million yuan/mt.

Supply and Demand: Yesterday, the prices of rare earth oxides were generally stable, with only dysprosium oxide prices continuing to rise to a certain extent. Demand side, the losses in raw material costs for metal plants are relatively severe, making it difficult to close deals at high oxide prices. It is expected that oxide prices will continue to fluctuate rangebound in the short term.

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 around 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, the metal market operated smoothly, mainly due to the end of the peak period for magnetic material enterprises' concentrated restocking. Market transactions slowed down, with actual trading volume decreasing compared to the previous two days. There was a strong wait-and-see sentiment in the market, as enterprises awaited the next tender for metals by large magnetic material plants.

NdFeB Blanks

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 remained stable, with trading activity similar to the previous day. On one hand, after continuous upward adjustments in the prices of raw materials such as oxides and metals, they showed a stable trend yesterday, leading to a slight upward adjustment followed by stable operation in magnetic material prices. On the other hand, as the export approval policy gradually accelerates, the polarization among magnetic material enterprises has become more pronounced.

NdFeB Scrap

Prices: Pr-Nd recycled from NdFeB scrap is quoted at 494-499 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, scrap market prices increased. Influenced by the high and stable prices in the oxide market, as well as suppliers' reluctance to sell at low prices, the availability of low-priced scrap on the market tightened. Recycling enterprises have to raise their offers to purchase scrap.