[SMM Rare Earth Morning Meeting Summary] Rare earth prices jump initially and then pull back, downstream maintains cautious procurement

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SMM reported on July 16:

Rare Earth Ores

Prices: The price of rare earth carbonate is approximately 37,800 yuan/mt, monazite is priced at around 44,900 yuan/mt, and the standard ore price of medium-yttrium, europium-rich ore is approximately 197,000 yuan/mt.

Supply and Demand: Recently, shipments from rare earth ore suppliers have been limited, with most suppliers holding onto their inventory and anticipating price increases. As a result, rare earth ore prices have remained firm, and market trading activity has been low.

Rare Earth Oxides

Prices: The quotation range for Pr-Nd oxide from last Friday to now is approximately 463,000-464,000 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 approximately 7.16-7.2 million yuan/mt.

Supply and Demand: Yesterday, under the combined influence of fear of high prices and shipments from large factories, the price of Pr-Nd oxide experienced a jump initially and then pulled back. Suppliers' willingness to sell has increased, but downstream buyers' wait-and-see sentiment remains strong, and market trading activity is not active.

Rare Earth Metals

Prices: The mainstream quotation range for Pr-Nd alloy is 573,000-577,000 yuan/mt. The quotation for dysprosium-iron alloy is approximately 1.6-1.62 million yuan/mt, and the quotation for terbium metal is approximately 8.9-8.95 million yuan/mt.

Supply and Demand: Yesterday, influenced by the pullback in the oxide market, metal market prices experienced a jump initially and then pulled back. However, some metal factories still adopted a wait-and-see attitude and suspended quotations. The metal market is characterized by strong wait-and-see sentiment, with downstream buyers being cautious in procurement. Only just-in-time procurement transactions are being concluded, and overall trading activity is sluggish.

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, there were no changes in magnetic material quotations, and trading activity was average. Prices are influenced by the excessive fluctuations in upstream rare earth oxides and metals, causing magnetic material enterprises to generally maintain their existing quotations. In terms of transactions, most magnetic material enterprises are constrained by the current raw material situation and have suspended transactions, 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 516-522 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, scrap market prices experienced a pullback, mainly influenced by the pullback in oxide market prices. The purchasing enthusiasm of recycling enterprises has increased, and the circulation of scrap in the market has also risen. However, as prices continue to be in the doldrums, there is a strong sentiment of wait-and-see and reluctance to sell in the market.