SMM REE Brief: February 25

[SMM Rare Earth News Flash] Affected by multiple factors, as of 17:00 today, the spot Pr-Nd oxide was quoted at 775,000-780,000 yuan/mt, unchanged from the morning price, and spot Pr-Nd alloy was quoted at 935,000-950,000 yuan/mt, also unchanged from the morning price. According to SMM, some transactions of Pr-Nd oxide were concluded at 775,000-777,000 yuan/mt. Some suppliers reported that supplies below 775,000 yuan/mt were hard to find. Although downstream magnetic material enterprises actively inquired and restocked, they showed obvious resistance to high-priced metals, with the highest transaction price of Pr-Nd alloy reaching 945,000 yuan/mt.

[SMM Overseas Rare Earths Update] Driven by rising prices in China and future expectations, mainstream rare earth prices outside China edged up this week. Praseodymium oxide FOB closed at $126-130/kg, neodymium oxide FOB closed at $157-189/kg, up $2/kg WoW, praseodymium metal FOB closed at $171-179/kg, up $5/kg WoW, and neodymium metal FOB closed at $159-179/kg, up $6/kg WoW.

[SMM Rare Earth Update] As of 11:00 AM today, driven by the continuous rise in Pr-Nd prices, suppliers raised their offers for gadolinium oxide to 235,000-240,000 yuan/mt, up 5,000 yuan/mt from yesterday morning. Gadolinium iron prices were raised to 225,000-230,000 yuan/mt, up 2,500 yuan/mt from yesterday morning. Holmium oxide was quoted at 543,000-547,000 yuan/mt, up 3,500 yuan/mt from yesterday morning. Holmium iron was quoted at 550,000-555,000 yuan/mt, up 5,000 yuan/mt from yesterday morning. Yttrium metal was quoted at 270-280 yuan/kg, up 40 yuan/kg from yesterday morning.