Latest Update in the SMM Rare Earth Magnets Market

[Brief Commentary on Domestic Iron Ore Market: Iron Ore Concentrates Prices in Tangshan Region May Have Some Room for Upside] Prices of iron ore concentrates in Tangshan region have slightly increased by 5-10 yuan, with the delivery-to-factory price (dry basis, tax included) of Fe66% iron ore concentrates at 945-950 yuan/mt. Currently, mines and beneficiation plants have a strong sentiment to stand firm on quotes, and there is a strong bullish sentiment in the short term.

[SMM Rare Earth Daily Review: News Hype Fades, Rare Earth Prices Remain Stable] Currently, the overall market prices of rare earths remain stable. The hype surrounding macro-level news has gradually diminished, with some industry insiders discovering that the export control policies for rare earths have not actually changed. Additionally, end-use demand is in the off-season, and orders from downstream magnetic material enterprises have not significantly increased, leading to a strong wait-and-see sentiment in the market. Practitioners are generally paying close attention to changes in end-use demand and further developments in macro policies.

[SMM Daily Commentary on Coking Coal and Coke] In terms of supply, the price reduction of coking coal has led to profit recovery, with coking enterprises maintaining high production enthusiasm and stable supply at a high level. In addition, coking enterprises are actively shipping goods, keeping their own coke inventory at a low level. Demand side, steel mills are in good profitability, with blast furnace operation rates remaining high, maintaining a rigid demand for coke. However, steel mills generally have high coke inventory, coupled with the increasing expectation of raw material price reductions, leading to cautious procurement strategies by steel mills. In summary, market sentiment has turned pessimistic, and it is expected that the coke market may be in the doldrums in the short term.