[SMM Rare Earth Morning Meeting Summary] Market Procurement Performance Is Poor, Enterprise Confidence Weakens

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SMM January 10 News:

Rare Earth Ore

Prices: Rare earth carbonate prices were around 32,400 yuan/mt, monazite prices were around 37,300 yuan/mt, and medium-yttrium, europium-rich ore standard ore prices were around 173,000 yuan/mt.

Supply and Demand: Currently, the mining market activity is low, suppliers show limited willingness to sell, and overall trading remains sluggish.

Rare Earth Oxides

Prices: The mainstream quotation range for Pr-Nd oxide was 399,000-401,000 yuan/mt; the transaction range for dysprosium oxide was around 1.62-1.63 million yuan/mt, and terbium oxide quotations were around 5.77-5.8 million yuan/mt.

Supply and Demand: Yesterday, some producers had stopped providing market quotations. Supplier quotations declined slightly but did not see a significant drop. However, due to weak market purchasing power, most participants showed reduced confidence in the market outlook.

Rare Earth Metals

Prices: The mainstream quotation for Pr-Nd alloy was around 490,000-493,000 yuan/mt, dysprosium-iron prices corresponding to oxide quotations were around 1.57-1.6 million yuan/mt, and terbium metal quotations were around 7.2-7.25 million yuan/mt.

Supply and Demand: Currently, metal factories show limited willingness to sell at low prices, while downstream buyers are exerting significant price pressure. The back-and-forth negotiations between upstream and downstream remain in a stalemate, with metal prices overall fluctuating downward slightly.

Magnetic Materials

Prices: NdFeB blank prices for NdFeB blank N35 (Ce) were quoted at 125-135 yuan/kg; NdFeB blank 38H prices were quoted at 170-180 yuan/kg.

Supply and Demand: Yesterday, rare earth prices dropped back slightly. The magnetic materials market showed low overall purchasing enthusiasm, mainly focusing on restocking as needed. On the demand side, downstream orders have not increased significantly, and enterprises remain cautious about the market outlook.

NdFeB Scrap

Prices: NdFeB scrap Pr-Nd prices were quoted at 414-417 yuan/kg; NdFeB scrap dysprosium prices were quoted at 1,559-1,580 yuan/kg; NdFeB scrap terbium prices were quoted at 5,069-5,123 yuan/kg.

Supply and Demand: Yesterday, scrap prices remained relatively stable. Market purchasing sentiment was moderate, and enterprises continued normal quotation and procurement activities, though low-price procurement became more challenging.