[SMM Rare Earth Morning Meeting Summary] Pr-Nd recovers before the holiday, dysprosium and terbium stabilize

SMM, October 8:

Rare earth ore:

Prices:Rare earth chloride sheet prices were approximately 63,500 yuan/mt, medium-yttrium, europium-rich ore was approximately 248,000 yuan/mt, and monazite was approximately 43,000 yuan/mt.

Supply and demand:Ore-side offers remained largely unchanged before the holiday, but downstream separation enterprises showed low purchase willingness, with sparse actual transactions in the market. Ore prices lacked upward momentum, and the standoff remained unbroken.

Rare earth oxides:

Prices:Pr-Nd oxide offer centers edged up slightly before the holiday, with inquiry sentiment recovering from the prior period; dysprosium oxide and terbium oxide prices stabilized successively.

Supply and demand:Before the holiday, low-priced Pr-Nd cargoes gradually tightened, suppliers showed reduced willingness to concede on prices, and metal plants followed with restocking for rigid demand, with procurement pace more active than earlier. On the dysprosium and terbium sides, offers were calm, industry participants generally adopted a wait-and-see stance before the holiday, and actual transactions remained limited.

Rare earth metals:

Prices:Pr-Nd alloy offers were stable with slight upward adjustments, and pre-holiday transactions recovered; dysprosium-iron alloy offers held steady; terbium metal offers were flat.

Supply and demand:Before the holiday, Pr-Nd alloy offers moved up slightly, with metal plants' willingness to hold prices firm dominating. Combined with the narrowing pre-holiday procurement window for some magnetic material enterprises, actual transactions were gradually concluded, but trading volume did not show significant expansion. In medium-heavy rare earths, dysprosium-iron alloy and terbium metal offers stabilized, inquiries were sluggish, transactions were sparse, and holiday wait-and-see sentiment was strong.

NdFeB blanks:

Prices:NdFeB blank N40 (Ce) was quoted at 218-228 yuan/kg, NdFeB blank 40M at 259-269 yuan/kg, and NdFeB 40UH at 363-383 yuan/kg.

Supply and demand:Before the holiday, NdFeB blank offers showed no significant changes, mainly because stable raw material prices led to stable NdFeB quotes. In terms of transactions, procurement and sales personnel gradually went on holiday before the holiday, and factories maintained normal production pace and delivery of existing orders, with no significant changes in transactions.

NdFeB scrap:

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

Supply and demand:Before the holiday, scrap market prices edged up slightly, mainly influenced by the slight pre-holiday increase in oxide prices. Although recycling enterprises correspondingly raised their external purchase quotes, their willingness to chase higher prices was limited, overall price increases were modest, and market trading activity was average.