[SMM Rare Earth Morning Meeting Summary] Metal prices remain firm supported by oxide costs, while in the NdFeB off-season, just-in-time procurement dominates.

SMM July 13 news:

Rare earth ore:

Price:Rare earth chloride flakes prices are about 63,500 yuan/mt, monazite prices are about 44,000 yuan/mt, and rare earth carbonate prices are about 62,200 yuan/mt.

Supply and demand:Currently, the overall circulation frequency of rare earth ores remains poor, and market trading is stagnant. However, the rise in oxide prices has led to an increase in actual transaction prices of rare earth ores.

Rare earth oxides:

Price:Pr-Nd oxide price fluctuations are relatively small overall, dysprosium oxide prices are relatively stable, and terbium oxide market price trends remain relatively strong.

Supply and demand:Last week, as the weekend approached, downstream inquiry activity was noticeably sluggish, actual transaction prices of Pr-Nd oxide pulled back slightly, some factories' offers were relatively firm, and willingness to sell at low prices remained low. On the medium-heavy rare earth side, driven by purchases by some enterprises, low-priced sources of terbium oxide were hard to find.

Rare earth metals:

Price:Pr-Nd alloy prices were stable, market inquiries were sluggish, dysprosium-iron alloy was stable, and terbium metal prices continued to be raised.

Supply and demand:Last week, Pr-Nd alloy prices were slightly raised. Supported by Pr-Nd oxide costs, metal plants' willingness to sell at low prices was weak, but downstream inquiries and purchases were relatively cautious, and actual transactions remained stagnant. On the medium-heavy rare earth side, terbium metal prices were significantly raised under oxide cost support, while dysprosium-iron alloy prices remained stable.

NdFeB blanks:

Price:NdFeB blank N40 (Ce) reported at 226-236 yuan/kg, NdFeB blank 38M reported at 267-277 yuan/kg, and NdFeB 40UH reported at 371-391 yuan/kg.

Supply and demand:Last week, NdFeB blank offer prices were slightly raised. The core reason was that the increase in raw material prices drove up NdFeB prices. In terms of transactions, entering the off-season, the production pace of end-users and motor factories gradually slowed down, the release of just-in-time orders was moderate, and large-scale restocking orders were not effectively released for the time being. Overall, the NdFeB market transaction volume was moderate.

NdFeB scrap:

Price:Prices of Pr-Nd recycled from NdFeB scrap were raised, while prices of dysprosium recycled from NdFeB scrap and terbium recycled from NdFeB scrap remained stable.

Supply and demand:Last week, scrap market prices were slightly raised. Influenced by relatively strong oxide offers, recycling enterprises slightly raised their external purchase offers, but mainly focused on just-in-time procurement. Scrap suppliers were relatively wait-and-see in their selling attitude, and actual market transactions were moderate.