[SMM Rare Earth Morning Meeting Minutes] Firm Pr-Nd oxide quotations supported a recovery in metals; magnetic material orders improved significantly, while scrap followed the price rise and remained on the sidelines

SMM News, August 17:

Rare earth ores:

Prices: Monazite was priced at around 43,000 yuan/mt, medium-yttrium, europium-rich ore at around 243,000 yuan/mt, and rare earth chloride flakes at around 63,300 yuan/mt.

Supply and demand: At present, the overall circulation frequency of rare earth ores remained poor, market trading was in a stalemate, and weaker oxide prices led to a downward shift in the center of actual transaction prices for rare earth ores.

Rare earth oxides:

Prices: Buying interest in inquiries for Pr-Nd oxide was relatively low, with relatively small price changes approaching the weekend; dysprosium oxide and terbium oxide prices were temporarily stable.

Supply and demand: Last week , suppliers in the Pr-Nd oxide market held firm on quotes, downstream inquiries remained inactive, and Pr-Nd oxide prices stayed temporarily stable in the 720,000-724,000 yuan/mt range; for medium-heavy rare earth, market trading activity remained low, and dysprosium oxide and terbium oxide prices continued to run steadily.

Rare earth metals:

Prices: Pr-Nd alloy prices continued to weaken, with actual transactions still weak; dysprosium-iron alloy prices were flat, and terbium metal prices edged down slightly.

Supply and demand: Last week, Pr-Nd alloy prices recovered slightly, mainly supported by Pr-Nd oxide prices. Metal enterprises raised quotes slightly, but downstream inquiry activity did not increase significantly, and actual transactions remained poor. In the medium-heavy rare earth market, due to fewer market inquiries, terbium metal quotes edged down slightly, while dysprosium-iron prices remained generally stable.

NdFeB blank:

Prices: NdFeB blank N40 (Ce) closed at 214-224 yuan/kg, NdFeB blank 40M closed at 255-265 yuan/kg, and NdFeB 40UH closed at 359-379 yuan/kg.

Supply and demand: Last week, NdFeB blank quotes pulled back slightly, mainly because lower raw material prices drove down NdFeB magnetic material prices. In terms of transactions, in mid-August, operating rates at motor enterprises rose gradually, the pace of stockpiling accelerated slightly, and NdFeB orders improved markedly.

NdFeB scrap:

Prices: Pr-Nd recycled from NdFeB scrap prices rose slightly, while dysprosium recycled from NdFeB scrap and terbium recycled from NdFeB scrap prices held steady.

Supply and demand: Last week, scrap market prices rose slightly, mainly affected by a slight recovery in oxide prices. Recycling enterprises raised quotes for external purchase, but suppliers’ willingness to sell was relatively cautious. The circulation volume of compliant, tax-included scrap in the market remained relatively small, and overall market trading performance was poor.