[SMM Rare Earth Morning Meeting Summary] The overall rare earth market remains stable, with strong wait-and-see sentiment from upstream and downstream.

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SMM News on July 11:

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, and the trading atmosphere in the ore market is sluggish.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide is approximately 453,000-454,000 yuan/mt, the mainstream quotation range for dysprosium oxide is 1.67-1.7 million yuan/mt, and the quotation range for terbium oxide is around 7.16-7.2 million yuan/mt.

Supply and Demand: Yesterday, the overall prices of rare earth oxides remained stable. Prices of medium-heavy rare earths strengthened slightly under the influence of news factors, but market trading activity was not high, and buyers had a strong wait-and-see sentiment.

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 was quiet. Due to the completion of concentrated procurement by magnetic material enterprises, market trading was weak, with few transactions. Inquiry activity decreased compared to the beginning of the week, and market participants were waiting to see the tender situation of major magnetic material enterprises.

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, and trading activity was the same as the previous day. On the one hand, the steady operation of raw materials such as oxides and metals after a slight increase drove the stable operation of downstream orders. On the other hand, the approval process for export procedures gradually became standardized and normalized, and some magnetic material enterprises actively prepared for magnetic material shipments.

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, the scrap market remained stable at a high level. Due to the high prices in the oxide market, scrap suppliers were reluctant to sell, and the circulation volume of scrap decreased. However, after recycling enterprises actively raised their quotations, the circulation volume of scrap improved.