[SMM Rare Earth Morning Briefing] Pr-Nd prices remain relatively stable, while strengthening terbium prices drive up activity in medium-heavy rare earths

SMM News, July 8:

Rare earth ore

Prices: rare earth carbonate was priced at around 61,300 yuan/mt, monazite at around 44,000 yuan/mt, and medium-yttrium, europium-rich ore at around 252,000 yuan/mt.

Supply and demand: currently, the overall circulation frequency of rare earth ore remained weak, and market trading was in a stalemate; however, the rise in oxide prices led to some upward adjustments in actual transaction prices for rare earth ore.

Rare earth oxides

Prices: Pr-Nd oxide prices were generally stable, with mainstream transaction prices at around 755,000 yuan/mt; terbium oxide prices rose at a relatively faster pace.

Supply and demand: yesterday, inquiry activity in the Pr-Nd oxide market recovered slightly, and some suppliers raised their quotes modestly; however, metal plants saw weak orders and had limited acceptance of high-priced oxides, so the increase in actual transaction prices for Pr-Nd oxide was not yet significant. Dysprosium oxide prices were relatively stable; terbium oxide suppliers had tight inventory, and low-priced supply was difficult to source.

Rare earth metals

Prices: Pr-Nd alloy prices held steady, with few actual transactions; dysprosium-iron alloy held steady, and terbium metal prices were raised.

Supply and demand: yesterday, Pr-Nd alloy prices held steady. Although market inquiry activity increased slightly, downstream purchasing remained cautious, with few actual transactions, and metal enterprises’ quotes operated steadily. For medium-heavy rare earth, inquiry activity in the terbium market increased, and metal enterprises raised their quotes, while dysprosium-iron alloy prices were relatively stable.

NdFeB blank

Prices: NdFeB blank N40 (Ce) closed at 223-233 yuan/kg, NdFeB blank 40M closed at 264-274 yuan/kg, and NdFeB 40UH closed at 368-388 yuan/kg.

Supply and demand: yesterday, NdFeB blank quotes temporarily remained stable. The core reason was that overall stable raw material prices drove NdFeB prices to remain temporarily stable. In terms of transactions, constrained by the end of month-end motor and end-user rigid-demand restocking, the impact transmitted to NdFeB enterprises resulted in limited orders, and overall market trading activity was average.

NdFeB scrap

Prices: Pr-Nd recycled from NdFeB scrap prices were raised slightly, while dysprosium recycled from NdFeB scrap and terbium recycled from NdFeB scrap prices held steady.

Supply and demand: yesterday, scrap market prices were raised slightly. Affected by a slight recovery in oxide quotes, recycling enterprises raised their external purchase quotes in tandem. Suppliers’ willingness to sell remained wait-and-see, and overall market trading performance was average.