[SMM Rare Earth Morning Meeting Summary] Raw material prices continue to rise, with strong wait-and-see sentiment in the market

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SMM News on July 15:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 38,400 yuan/mt, the price of monazite is around 45,500 yuan/mt, and the standard price of medium-yttrium, europium-rich ore is about 199,000 yuan/mt.

Supply and Demand: Recently, shipments from rare earth ore suppliers have been low, with most market participants holding onto their stocks and anticipating price increases. The prices of rare earth ores have shown a slight upward trend.

Rare Earth Oxides.

Prices: The quotation range for Pr-Nd oxide from last Friday to now is approximately 470,000-475,000 yuan/mt, the mainstream quotation range for dysprosium oxide is 1.66-1.7 million yuan/mt, and the quotation range for terbium oxide is around 7.16-7.2 million yuan/mt.

Supply and Demand: Yesterday, the price of Pr-Nd oxide surged rapidly, intensifying the market's fear of high prices. Starting from the afternoon, traders increased their shipments, and the market transaction prices also pulled back slightly. Prices for medium-heavy rare earths remained stable with no significant changes.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 580,000-586,000 yuan/mt, the quotation for dysprosium-iron alloy is approximately 1.6-1.62 million yuan/mt, and the quotation for terbium metal is around 8.9-8.95 million yuan/mt.

Supply and Demand: Yesterday, the metal market continued to be affected by the excessive increase in oxide market prices. Some metal factories still suspended their quotations, and some enterprises quoted high prices corresponding to the oxide transactions. However, downstream buyers found it difficult to accept such high-priced metals, leading to cautious procurement, sluggish trading, and few actual transactions.

NdFeB Blanks

Prices: NdFeB blank N38 (Ce) is priced at 147-157 yuan/kg; NdFeB blank 40M is priced at 193-203 yuan/kg; NdFeB blank 40H is priced at 197-207 yuan/kg; NdFeB blank 45SH (Ce) is priced at 247-267 yuan/kg.

Supply and Demand: Yesterday, magnetic material enterprises slightly increased their quotations, with moderate trading activity. Prices were influenced by the rapid increase in upstream rare earth oxide and metal prices, leading magnetic material enterprises to generally increase their quotations slightly. In terms of transactions, due to the excessive increase in raw material prices, some magnetic material enterprises suspended trading, only maintaining production for existing and urgent orders, and waiting for subsequent changes.

NdFeB Scrap

Prices: Pr-Nd recycled from NdFeB scrap is priced at 516-527 yuan/kg; dysprosium recycled from NdFeB scrap is priced at 1,643-1,654 yuan/kg; terbium recycled from NdFeB scrap is priced at 5,439-5,550 yuan/kg.

Supply and Demand: Yesterday, the scrap market prices increased significantly, mainly influenced by the rapid increase in oxide market prices. However, market procurement has become polarized: large leading manufacturers have actively followed the price increase to procure scrap, while small and medium-sized manufacturers have been cautious in procurement due to fear of high prices. The overall pace of market procurement has slowed down, with a strong wait-and-see sentiment prevailing.