Pr-Nd Prices Continue to Rise, Medium-Heavy Rare Earth Prices Stop Falling and Recover [SMM Rare Earth Weekly Review]

December 31 - News:

Rare Earth Ore:

Today, the price range for rare earth carbonate was 49,000-49,200 yuan/mt, monazite prices adjusted to 5.38-5.48 yuan/mt, and medium-yttrium, europium-rich ore prices were around 211,000-213,000 yuan/mt. Recently, purchasing demand from separation plants remained sluggish, causing ore suppliers to face significant difficulties in selling. Although the market supply of ion-adsorption ore remained ample, the operating rate of separation plants was not expected to improve significantly in the short term.

Rare Earth Oxides:

Recently, lanthanum oxide prices still showed no significant fluctuations, with lanthanum oxide prices remaining stable at 4,300-4,700 yuan/mt, and cerium oxide prices also continued to hold steady this week at 11,000-12,000 yuan/mt. This week, due to the rapid tightening of low-priced sources purchased by major producers, news factors influenced suppliers to raise their quotes quickly. However, actual purchasing activity from downstream alloy plants was not high, with inquiries mainly coming from traders. Pr-Nd oxide prices rose rapidly to 605,000-608,000 yuan/mt. This week, trading activity in the medium-heavy rare earth market remained low, with dysprosium oxide prices fluctuating rangebound. As of today, transaction prices for dysprosium oxide moved to 1.33-1.35 million yuan/mt. Inquiry and purchasing activity in the terbium oxide market was poor, with some traders actively lowering prices to sell and liquidate. Terbium oxide prices continued to decline to 5.95-6 million yuan/mt. Price fluctuations in the holmium oxide market remained relatively small, with its prices adjusting slightly this week to the range of 490,000-494,000 yuan/mt. Inquiry activity in the erbium oxide market remained relatively high, with its prices mainly fluctuating at highs. As of today, transaction prices for erbium oxide moved to the range of 353,000-355,000 yuan/mt. Yttrium oxide prices experienced a slight pullback this week, with weak downstream purchase willingness, and its prices adjusted this week to 50,000-53,000 yuan/mt.

Rare Earth Metals:

This week, Pr-Nd alloy prices rose then dropped back slightly. As of now, Pr-Nd alloy has stabilized at 730,000-740,000 yuan/mt. At the beginning of the week, influenced by the rapid price surge in oxides, Pr-Nd alloy prices saw a slight raise due to cost support. However, as the holiday approached, purchase willingness from downstream magnetic material enterprises was weak, and market transactions were stagnant, leading to a slight pullback after the price peak. Nevertheless, raw material costs remained high, limiting the actual decline in metal prices. In the medium-heavy rare earth market, dysprosium-iron alloy was quoted at 1.28-1.3 million yuan/mt. Affected by the raise in dysprosium oxide prices, metal enterprises' quotes saw a slight increase, but current downstream purchasing demand was relatively weak, and market inquiries were sluggish. Terbium metal prices, influenced by lower oxide costs and suppliers lowering prices to sell, dropped to 7.45-7.5 million yuan/mt and then stabilized, with suppliers showing little willingness to further reduce prices for sales. Gadolinium-iron alloy prices rose to 155,000-157,000 yuan/mt, as suppliers raised offers slightly due to higher Pr-Nd prices, but downstream purchases were weak and actual market transactions remained sluggish.

Rare Earth Permanent Magnets:

NdFeB blank N38 (Ce) was quoted at 200-210 yuan/kg; NdFeB blank 40M at 246-256 yuan/kg; NdFeB blank 40H at 250-260 yuan/kg; NdFeB blank 45SH (Ce) at 300-320 yuan/kg.

NdFeB prices rose slightly this week, mainly driven by a rapid increase in Pr-Nd alloy prices at the beginning of the week. However, the price inversion of NdFeB did not ease as end-users had limited acceptance of high prices. Market activity was sluggish this week, due to rising raw material prices, which led to a strong wait-and-see sentiment among end-users, and weakened rigid stockpiling demand ahead of the New Year holiday.

Rare Earth Scrap:

Pr-Nd recycled from NdFeB scrap was quoted at 610-620 yuan/kg; dysprosium recycled from NdFeB scrap at 1,300-1,330 yuan/kg; terbium recycled from NdFeB scrap at 5,100-5,300 yuan/kg.

Scrap market prices rose slightly this week, mainly influenced by the rapid increase in Pr-Nd oxide prices. However, as the New Year holiday approached, overall trading activity in the scrap market was sluggish. Recycling enterprises were less willing to actively quote, and prices showed no significant fluctuations after the rise. Magnetic material enterprises were also less willing to sell, reducing the spot cargo circulation in the scrap market. Overall, trading sentiment in the scrap market was sluggish ahead of the holiday, and prices remained stable without significant fluctuations.