[SMM Rare Earth Morning Meeting Summary] The rare earth market is operating strongly and steadily, with downstream players continuing to wait and see

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

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

SMM reported on July 17:

Rare earth ore

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

Supply and demand: Recently, shipments from rare earth ore suppliers have been limited, with most suppliers holding inventory and expecting prices to rise. 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 467,000-470,000 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 adjusted downward again, with suppliers maintaining firm quotations and buyers exhibiting a strong wait-and-see sentiment. Although the price of Pr-Nd oxide remained relatively strong, actual market transactions remained sluggish. The prices of medium-heavy rare earths remained relatively stable, with low market inquiry activity.

Rare earth metals

Prices: The mainstream quotation range for Pr-Nd alloy is 570,000-575,000 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 morning, metal market prices were influenced by the sluggish trading in the oxide market, with downstream magnetic material enterprises believing there was still room for prices to pull back, resulting in weak purchase willingness. Market inquiries were sluggish. In the afternoon, influenced by the recovery in oxide prices, suppliers raised their quotations, but actual transactions remained sluggish.

NdFeB blank

Prices: NdFeB blank N38 (Ce) is quoted at 150-160 yuan/kg; NdFeB blank 40M is quoted at 196-206 yuan/kg; NdFeB blank 40H is quoted at 200-210 yuan/kg; NdFeB blank 45SH (Ce) is quoted at 250-270 yuan/kg.

Supply and demand: Yesterday, magnetic material quotations increased slightly, with trading activity remaining the same as the previous day. In terms of prices, oxide and metal prices stabilized yesterday, and combined with metal tenders from top-tier enterprises, this drove up the quotations of magnetic material enterprises from a cost perspective. In terms of transactions, the polarization in the magnetic material market remained evident, with top-tier enterprises continuously securing new orders due to their capacity and technological advantages.

NdFeB scrap

Prices: Pr-Nd recycled from NdFeB scrap is quoted at 511-516 yuan/kg; dysprosium recycled from NdFeB scrap is quoted at 1,643-1,654 yuan/kg; terbium recycled from NdFeB scrap is quoted at 5,439-5,550 yuan/kg.

Supply and demand: Yesterday, the market price of scrap continued to pull back, mainly due to the weak transaction volume in the oxide market, which led to weak purchase willingness of recycling enterprises at high prices. Although the oxide market price recovered somewhat in the afternoon, the actual transaction volume remained weak and did not drive up the purchase price of scrap.