[SMM Rare Earth Morning Meeting Summary] Suppliers Firm in Quotations, Limited Spot Cargo Circulation in the Market

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SMM, December 26:

Rare Earth Ore

Prices: Rare earth carbonate prices are approximately 32,400 yuan/mt, monazite prices are around 37,000 yuan/mt, and medium-yttrium, europium-rich ore standard ore prices are about 170,000 yuan/mt.

Supply and Demand: Recently, rare earth ore prices have remained relatively firm, with suppliers reducing active shipments, leading to a gradually subdued market trading atmosphere.

Rare Earth Oxides

Prices: The mainstream quotation range for Pr-Nd oxide is 400,000-402,000 yuan/mt; the transaction range for dysprosium oxide is 1.59-1.6 million yuan/mt, and terbium oxide prices are approximately 5.55-5.65 million yuan/mt.

Supply and Demand: Yesterday, rare earth oxide prices were relatively stable, with suppliers maintaining firm quotations. Spot market circulation was limited, while buyers remained relatively active in market inquiries, making low-priced sources difficult to find.

Rare Earth Metals

Prices: The transaction prices for Pr-Nd alloy were approximately 490,000-494,000 yuan/mt, dysprosium-iron prices corresponding to oxide quotations were around 1.565-1.575 million yuan/mt, and terbium metal prices were approximately 6.95-7 million yuan/mt.

Supply and Demand: Yesterday, metal manufacturers quoted relatively high prices due to firm oxide prices, while low-priced sources tightened. However, procurement by magnet manufacturers remained weak, with few high-priced transactions in the market.

Magnetic Materials

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

Supply and Demand: Currently, the actual procurement and trading volume of permanent magnet enterprises have shown a slight increase, and their attention to raw material market prices has also risen. It is expected that enterprises may continue small-scale replenishment operations in the future.

NdFeB Scrap

Prices: NdFeB scrap Pr-Nd prices were reported at 408-417 yuan/kg; NdFeB scrap dysprosium prices were reported at 1,548-1,580 yuan/kg; NdFeB scrap terbium prices were reported at 5,000-5,054 yuan/kg.

Supply and Demand: Recently, the scrap market has been sluggish, struggling to rise in prices. Scrap separation enterprises generally maintained stable quotations, with most adopting strategies of selecting premium sources and reducing procurement. Additionally, enterprises showed relatively little interest in high-priced inventory.