[SMM Rare Earth Morning Meeting Summary] Pr-Nd Oxide Weakens, Metals Follow the Decline, Scrap Prices Fall with Sellers Holding Back from Selling in a Standoff, Magnetic Material Orders Recover

SMM, August 14:

Rare Earth Ore:

Prices:Monazite prices were about 43,000 yuan/mt, rare earth carbonate prices were about 57,950 yuan/mt, and rare earth chloride flake prices were about 242,000 yuan/mt.

Supply and Demand:At present, overall circulation frequency of rare earth ore remains low, market trading is stagnant, and weak oxide prices have also caused the center of actual rare earth ore transaction prices to shift lower.

Rare Earth Oxides:

Prices:Market inquiry and purchasing activity for Pr-Nd oxide remained low, and prices remained in the doldrums; dysprosium oxide and terbium oxide prices were temporarily stable.

Supply and Demand:Yesterday, affected by fluctuations in futures prices, the market was broadly under pressure, and most industry participants continued to hold bearish sentiment. Downstream metal producers showed strong wait-and-see sentiment, and purchase willingness remained subdued; some traders continued to sell at low prices to facilitate transactions, and Pr-Nd oxide prices extended their weak trend. For medium-heavy rare earths, overall market changes were limited, and dysprosium oxide and terbium oxide prices remained relatively stable.

Rare Earth Metals:

Prices:Pr-Nd alloy prices continued to weaken, actual transactions remained weak, and dysprosium-iron alloy and terbium metal prices were flat.

Supply and Demand:Yesterday, Pr-Nd alloy prices continued to weaken, mainly affected by large fluctuations in Pr-Nd oxide prices. Combined with still-low downstream inquiry activity, actual transactions remained weak. In the medium-heavy rare earth market, although market inquiry activity remained low, suppliers did not make notable adjustments to their quotes, and the market remained stable overall.

NdFeB Blanks:

Prices:NdFeB blank N38 (Ce) was quoted at 209-219 yuan/kg, NdFeB blank 38M was quoted at 247-267 yuan/kg, and NdFeB 38UH was quoted at 354-374 yuan/kg.

Supply and Demand:Yesterday, NdFeB blank quotes held steady for the time being. The core reason was that raw material prices fluctuated, but due to the lag in industry chain transmission, NdFeB blank prices remained stable. In terms of trading, in August, some downstream motor producers gradually resumed production, and higher operating rates drove a modest recovery in NdFeB orders.

NdFeB Scrap:

Prices:Prices of Pr-Nd recycled from NdFeB scrap continued to decline, while prices of dysprosium recycled from NdFeB scrap and terbium recycled from NdFeB scrap held steady.

Supply and Demand:Yesterday, scrap market prices continued to move lower, mainly affected by persistently weak oxide prices. Recycling enterprises continued to lower their external purchase quotes, and their willingness to purchase at higher prices was weak. However, scrap suppliers showed limited willingness to sell at low prices, the circulation of compliant tax-inclusive scrap was relatively low, and overall market trading remained in a stalemate.