[SMM Rare Earth Morning Brief] Pr-Nd oxide falls below the 750,000 mark, and scrap recycling faces increasing difficulty in procurement.

SMM July 30 News:

Rare Earth Ore:

Prices: Medium-yttrium, europium-rich ore prices were about 251,000 yuan/mt, rare earth chloride flake prices were about 63,500 yuan/mt, and rare earth carbonate prices were about 60,800 yuan/mt.

Supply and Demand: Currently, the overall circulation frequency of rare earth ores remains poor, market trading is stagnant, and weak oxide prices have also led to lower actual transaction prices for rare earth ores.

Rare Earth Oxides:

Prices: Pr-Nd oxide market quotes further declined, falling below 750,000 yuan/mt; dysprosium oxide and terbium oxide quotes remained relatively stable.

Supply and Demand: Yesterday, affected by futures price fluctuations, Pr-Nd oxide market quotes fell further after the afternoon session. Suppliers had low inventory, and their willingness to offer at low prices was weak. Downstream metal plants held a strong wait-and-see sentiment, leading to sluggish Pr-Nd market transactions. In the medium-heavy rare earth market, downstream demand remained sluggish, but suppliers’ quotes remained firm, and dysprosium oxide and terbium oxide prices continued to hold steady.

Rare Earth Metals:

Prices: Pr-Nd alloy prices were relatively firm, but market inquiries were limited. Dysprosium-iron alloy and terbium metal prices remained flat.

Supply and Demand: Yesterday, affected by oxide price fluctuations, metal suppliers’ quotes were relatively firm, but market inquiries were limited, the trading atmosphere was rather sluggish, and actual transactions were stagnant. In the medium-heavy rare earth market, inquiries remained sluggish, with no significant adjustments in dysprosium and terbium prices, and overall operations remained stable.

NdFeB Blanks:

Prices: NdFeB blank N35 (Ce) was reported at 210-220 yuan/kg, NdFeB blank 35M at 255-265 yuan/kg, and NdFeB 35UH at 355-375 yuan/kg.

Supply and Demand: Yesterday, NdFeB blank quotes remained temporarily stable, mainly because raw material prices held steady, supporting the stability of NdFeB quotes. In terms of trading, as July draws to a close, various regions in China experienced high temperatures, and motor factories and end-users began entering their summer high-temperature holidays. Operating rates at motor factories and end-users weakened significantly, reducing demand for rare earth permanent magnets, ultimately leading to persistently sluggish trading activity in the NdFeB market.

NdFeB Scrap:

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

Supply and Demand: Yesterday, scrap market prices pulled back slightly. Affected by oxide price fluctuations, recycling enterprises slightly lowered their external purchase quotes. However, scrap suppliers’ selling sentiment turned cautious, reducing the circulation of compliant, tax-paid scrap in the market and increasing the difficulty of procurement for recycling enterprises.