[SMM Weekly Review: Rare Earth Prices Remain Stagnant, Market Transactions Await Observation] During the week, rare earth oxide prices experienced a rapid increase influenced by policy-related news. However, the downstream demand's acceptance capacity was limited, and the actual market transaction situation remains to be observed. The price of yttrium oxide remained stable this week at 40,000-42,000 yuan/mt.
February 20 News:
Rare Earth Ore:
Today, the price range for rare earth carbonate was 35,900-36,000 yuan/mt, monazite prices were raised to 40,000-41,000 yuan/mt, and medium-yttrium, europium-rich ore prices were approximately 188,000-189,000 yuan/mt. Currently, the supply of rare earth ore remains relatively tight. The 2025 rare earth mining quotas have not yet been released, and some industry participants remain cautious about raw material purchases.
Rare Earth Oxides:
Currently, lanthanum oxide prices were slightly adjusted to 3,600-4,200 yuan/mt, while cerium oxide prices were raised to 8,500-8,900 yuan/mt. During the week, rare earth oxide prices experienced a rapid increase influenced by policy-related news, but downstream demand showed limited acceptance, leaving the actual market transactions to be observed. Rare earth raw material prices are currently in a stalemate. Yttrium oxide prices remained stable this week at 40,000-42,000 yuan/mt.
Rare Earth Metals:
In the metal market, with the rapid rise in rare earth raw material prices, market sentiment has become more cautious. On one hand, suppliers have gained confidence in the market outlook and raised prices, leading to a quick tightening of low-priced supply. On the other hand, downstream magnetic material enterprises faced difficulties in accepting high prices, resulting in relatively insufficient order releases and intensified back-and-forth negotiations between upstream and downstream.
Rare Earth Permanent Magnets:
This week, the rare earth market was generally quiet. The magnetic material market saw low trading activity due to sufficient pre-holiday stockpiling and insufficient downstream demand release. Downstream customers had ample inventory, and order growth was relatively limited. As of the 20th, influenced by the release of documents, upstream raw material prices rose significantly. Magnetic material enterprises adjusted their Pr-Nd alloy quotations accordingly, but purchase sentiment became more cautious, and market participants adopted a more evident wait-and-see attitude.
Rare Earth Scrap:
This week, PrNd recycled from NdFeB scrap was priced at 457-469 yuan/kg; dysprosium recycled from NdFeB scrap was priced at 1,608-1,635 yuan/kg; terbium recycled from NdFeB scrap was priced at 5,109-5,178 yuan/kg. Currently, due to fluctuations in oxide prices, scrap market prices also fluctuated. Influenced by the release of documents, market sentiment became noticeably more cautious, with buyers showing reduced purchase willingness and high-price transactions being difficult to achieve. Most buyers preferred to inquire and purchase at lower price levels to secure orders. Separation enterprises replenished inventory based on demand, but the phenomenon of inverted pricing still persisted.
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