[SMM Rare Earth Morning Briefing] Pr-Nd oxide quotes are firm, dysprosium-iron alloy slightly raised, and end-use demand remains running at off-season levels

SMM, July 16:

Rare Earth Ore:

• Prices:Rare earth carbonate price was approximately 61,800 yuan/mt, monazite price was approximately 44,000 yuan/mt, and medium-yttrium, europium-rich ore price was approximately 255,000 yuan/mt.

• Supply and Demand:Currently, the overall circulation frequency of rare earth ore remains sluggish, and market trading is in a stalemate. However, rising oxide prices have also led to an increase in actual transaction prices for rare earth ore.

Rare Earth Oxides:

• Prices:Pr-Nd oxide prices were firm, while gadolinium oxide and terbium oxide prices pulled back slightly.

• Supply and Demand:Yesterday, purchasing inquiries in the Pr-Nd oxide market were not highly active, but suppliers’ quoted prices remained relatively firm, with strong expectations among most industry participants. In the medium-heavy rare earth segment, demand for gadolinium oxide and terbium oxide was weak; although suppliers’ quotes were firm, actual transaction prices were on the low side.

Rare Earth Metals:

• Prices:Pr-Nd alloy prices pulled back, market trading performance was poor. Dysprosium-iron alloy edged higher, and terbium metal prices remained stable.

• Supply and Demand:Yesterday, Pr-Nd alloy prices pulled back slightly, and the market trading atmosphere was sluggish. Quotes from metal plants were rather divided: large plants held firm quotes, while small plants proactively sold at low prices, but overall transactions were limited. In the medium-heavy rare earth segment, terbium metal prices remained stable, and the dysprosium-iron alloy market saw tightening of low-price supply, with quotes slightly raised.

NdFeB Blanks:

• Prices:NdFeB blank N40 (Ce) closed at 225-235 yuan/kg, NdFeB blank 40M closed at 266-276 yuan/kg, and NdFeB 40UH closed at 370-390 yuan/kg.

• Supply and Demand:Yesterday, NdFeB blank quotes were temporarily stabilized, mainly because raw material prices remained stable, which kept NdFeB quotes unchanged. On the trading front, entering the off-season, production pace at terminals and motor factories gradually slowed down, just-in-time procurement orders were released at a normal level, while large-scale restocking orders were not effectively released yet, resulting in moderate overall trading volume for NdFeB.

NdFeB Scrap:

• Prices:Prices of Pr-Nd recycled from NdFeB scrap remained stable, and prices of dysprosium and terbium recycled from NdFeB scrap also remained stable.

• Supply and Demand:Yesterday, scrap market prices continued to hold steady. Affected by small fluctuations in oxide quotes, the recycling market was stable. Recycling enterprises kept their external purchase quotes unchanged, still focusing on just-in-time procurement. Scrap suppliers adopted a wait-and-see attitude toward shipments, with overall actual transactions being mediocre.