The price increase of rare earth concentrate drives the market to rise slightly [SMM Rare Earth Daily Review]

》Check SMM's rare earth quotes, data, and market analysis

》Subscribe to view historical price trends of SMM's metal spot cargo

SMM News on July 11: Today, rare earth market prices have risen. Specifically, in the oxide market, Pr-Nd oxide prices have increased to 455,000-457,000 yuan/mt, dysprosium oxide prices have risen to 1.67-1.7 million yuan/mt, terbium oxide prices have remained stable at 7.16-7.2 million yuan/mt, and gadolinium oxide prices have increased to 165,000-166,000 yuan/mt. Holmium oxide prices have remained stable at 525,000-530,000 yuan/mt, and erbium oxide prices have continued to fluctuate between 323,000-325,000 yuan/mt.

In the metal market, Pr-Nd alloy prices have increased to 554,000-560,000 yuan/mt, dysprosium-iron alloy prices have risen to 1.6-1.62 million yuan/mt, terbium metal quotes have remained stable at 8.85-8.9 million yuan/mt, gadolinium-iron alloy prices have remained stable at 159,000-161,000 yuan/mt, holmium-iron alloy market prices have remained stable at 525,000-530,000 yuan/mt, and lanthanum-cerium alloy prices have continued to remain stable at 17,000-19,000 yuan/mt.

Currently, rare earth market prices have risen slightly, mainly due to Bao Gang United Steel and China Northern Rare Earth raising rare earth concentrate prices again in Q3, pushing up oxide costs. Some market participants have taken the opportunity to speculate in the oxide market, driving up market sentiment and leading suppliers to raise their quotes. Meanwhile, metal producers, facing high oxide costs, have had to raise metal prices. However, due to the concentrated procurement completed by downstream magnetic material enterprises at the beginning of this week, metal inventories are relatively sufficient, and purchase willingness has weakened, resulting in low activity in the metal market and sluggish actual transactions. Today, major magnetic material enterprises are conducting metal tenders, and the market has a strong wait-and-see sentiment, awaiting the tender results. Overall, the rise in rare earth concentrate prices has driven up oxide market prices, and metal producers have raised their quotes due to cost pressure, but magnetic material enterprises have led to sluggish transactions due to sufficient inventories. It is expected that in the short term, influenced by the supply-demand relationship, the rare earth market will exhibit a fluctuating upward trend.