[SMM Rare Earth Morning Briefing] News disturbances and futures shocks drove Pr-Nd oxide to pull back rapidly.

SMM, July 28:

Rare Earth Ore:

Prices: The price of rare earth carbonate was around 62,000 yuan/mt, the price of chlorinated rare earth flakes was around 63,500 yuan/mt, and the price of monazite was around 44,000 yuan/mt.

Supply-Demand: Currently, the overall circulation frequency of rare earth ore remains poor, the market trading situation is stagnant, and weak oxide prices have also led to a downward adjustment in actual transaction prices for rare earth ore.

Rare Earth Oxides:

Prices: The trading atmosphere in the Pr-Nd oxide market continued to be sluggish, with offer prices falling rapidly; quotations for dysprosium oxide and terbium oxide remained relatively stable.

Supply-Demand: Yesterday, affected by news factors combined with disturbances from the futures market, Pr-Nd oxide prices began a rapid pullback from the afternoon session onward, with many suppliers suspending quotations; in the medium-heavy rare earth sector, the price trends for dysprosium oxide and terbium oxide were relatively steady, showing no significant fluctuations.

Rare Earth Metals:

Prices: Pr-Nd alloy prices consolidated, with strong wait-and-see sentiment downstream; dysprosium-iron alloy prices dipped slightly; terbium metal prices were flat.

Supply-Demand: Yesterday, affected by oscillations in oxide prices, quotations from metal suppliers in the afternoon pulled back compared to the morning; downstream magnetic material enterprises showed strong wait-and-see sentiment, and actual market transactions were weak. In the medium-heavy rare earth market, inquiries remained consistently sluggish; dysprosium-iron prices dipped slightly, and terbium metal was flat.

NdFeB Blanks:

Prices: NdFeB blank N38 (Ce) was quoted at 217-227 yuan/kg, NdFeB blank 38M was quoted at 260-270 yuan/kg, and NdFeB blank 38UH was quoted at 362-382 yuan/kg.

Supply-Demand: Yesterday, quotations for NdFeB blanks were temporarily stable. The core reason was that fluctuations in raw material prices throughout the day led NdFeB producers to keep their quotations stable for the time being. In terms of trading, as July drew to a close, various regions in China experienced high temperatures, and motor factories and end-users gradually began their high-temperature holidays. The operating rates of motor factories and end-users weakened significantly, reducing demand for rare earth permanent magnets, which ultimately resulted in persistently low trading activity in the NdFeB market.

NdFeB Scrap:

Prices: The price of Pr-Nd recycled from NdFeB scrap increased slightly, while prices for dysprosium recycled from NdFeB scrap and terbium recycled from NdFeB scrap were stable.

Supply-Demand: Yesterday, scrap market prices edged up slightly. Affected by fluctuations in oxide prices, external purchase quotations from recycling enterprises were raised slightly. However, due to the significant volatility in oxide prices, scrap suppliers adopted a cautious approach to selling, resulting in generally moderate market trading.