[SMM Rare Earth Morning Summary] Light rare earth prices are under pressure, while the medium-heavy rare earth market remains stable.

SMM July 29 news:

Rare Earth Ore:

Price: The price of medium-yttrium, europium-rich ore is about 252,000 yuan/mt, rare earth chloride flakes price about 63,500 yuan/mt, and monazite price about 44,000 yuan/mt.

Supply and Demand: Currently, the overall circulation frequency of rare earth ore remains poor, market trading is stagnant, and weak oxide prices have driven actual rare earth ore transaction prices lower.

Rare Earth Oxides:

Price: Pr-Nd oxide market quotations continue to be in the doldrums, with few actual transactions; dysprosium oxide and terbium oxide quotations remain relatively stable.

Supply and Demand: Yesterday, affected by news factors combined with fluctuations in futures prices, Pr-Nd oxide quotations dipped further. In the afternoon, inquiry activity in the Pr-Nd market picked up slightly, Pr-Nd prices began to stop falling, and some metal plants' purchase willingness improved modestly. In the medium-heavy rare earth sector, dysprosium oxide and terbium oxide prices were relatively stable, with no significant fluctuations for the time being.

Rare Earth Metals:

Price: Pr-Nd alloy prices were in the doldrums, market trading activity improved, and dysprosium-iron alloy and terbium metal prices were flat.

Supply and Demand: Yesterday, affected by lower oxide prices, metal suppliers' quotations continued to pull back. In the afternoon, inquiry activity from magnetic material enterprises increased, and actual transactions gradually followed. Low-priced supply began to tighten, and suppliers' quotations stopped falling and stabilized. In the medium-heavy rare earth market, inquiries were average, dysprosium and terbium prices saw no significant adjustment, and overall operations remained stable.

NdFeB Blank:

Price: NdFeB blank N40 (Ce) was quoted at 220-230 yuan/kg, NdFeB blank 40M at 261-271 yuan/kg, and NdFeB 40UH at 365-385 yuan/kg.

Supply and Demand: Yesterday, NdFeB blank quotations were slightly lowered, mainly because lower raw material prices led to lower NdFeB prices. On the trading front, as July drew to a close, various regions in China experienced high temperatures, and motor factories and end-users began entering high-temperature holidays. The operating rate of motor factories and end-users weakened noticeably, reducing demand for rare earth permanent magnets, which ultimately kept trading activity in the NdFeB market persistently sluggish.

NdFeB Scrap:

Price: Pr-Nd recycled from NdFeB scrap prices pulled back slightly, while dysprosium and terbium recycled from NdFeB scrap prices held steady.

Supply and Demand: Yesterday, scrap market prices pulled back slightly, as oxide price declines led recycling enterprises to slightly lower their external purchase offer prices. However, scrap suppliers adopted a wait-and-see attitude toward selling, reducing the circulation of compliant, tax-included scrap in the market, and trading was weak.