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JL MAG Rare-Earth Industry Price Briefing 06-22~06-28

Week26,2020

1. 重要新闻简报Briefing of Important News

本周稀土市场行情，镨钕，金属钕和铽的价格小幅上涨，镝铁价格较为稳定。亚洲金属网周末价格: 镨钕金属价格367-372元/KG，金属钕价格372-377元/KG，镝铁合金价格1880-1900元/KG，金属铽价格5730-5780元/KG。

This week, price of PrNd, Nd Metal, Tb has a slight increase while DyFe is relatively stable. Price from Asian Metal at this weekend presented: PrNd metal 367-372RMB/KG, Nd metal 372-377RMB/KG, DyFe alloy 1,880-1,900RMB/KG, and Tb metal 5,730-5,780 RMB/KG.

2. 业内人士分析Analysis of Professional Insiders

本周国内轻中重稀土产品多呈现上涨。轻稀土方面，氧化镨钕价格仍然上行。节前这几天持货商及分离厂出货意愿不强，多惜售待节后销售。报价也因此再次上调，截至端午节前，氧化镨钕主流价格回归到28.8-29.2万元/吨，均价较上周五上涨0.45万元/吨。从下游来看，金属厂也是谨慎按需采购，市场实际交易量并不大。氧化钕价格同样上涨，节前氧化钕集中在29.4-29.8万元/吨，均价较上周五上涨0.35万元/吨。

This week, prices of domestic light, medium and heavy rare earth products have mostly risen. As of light rare earth, the price of PrNd oxide is still keep increasing. In the days before the festival, the shippers and separators are not no willing to ship goods, so they are reluctant to sell and wait after the festival. As a result, the price was raised again. By the end of Dragon Boat Festival, the mainstream price of PrNd oxide had returned to 288,000-292,000 rmb/ ton, with an average price increase of 4,500 rmb/ ton compared to that of last Friday. From the downstream point of view, the metal factory is also cautious in purchasing on demand, and the actual trading volume in the market is not large. The price of Nd oxide has also risen. Before the festival, the price of Nd oxide was concentrated at 294,000-298,000 rmb/ ton, with an average price increase of 3,500 rmb/ ton compared to that of last Friday.

中重稀土方面，周内氧化铽、金属铽等产品的表现继续强势。氧化铽现货供应紧张，货源难寻，这是多数商家坚定提价的信心来源。相对于上游产品的供应吃紧，氧化铽及金属铽下游消费表现稳定，但目前也仍然是按需采购。

In terms of medium and heavy rare earth, products such as Tb oxide and Tb metal continued to increase strongly within this week. Tb oxide spot supply is tight and the supply is hard to find, which brings confidence source for most businesses to raise prices firmly. Compared with the tight supply of upstream products, the downstream consumption of Tb oxide and Tb metal is stable, but it is still on-demand procurement.

SMM认为，目前氧化镨钕价格的稳步回升，一定程度起到了提振下游的作用，引发部分补库需求。中重稀土中铽钬表现偏强，除了供需基本面的利好因素外，资金的流入也起到了助推作用。（上海有色网）

SMM believes that at present, the steady recovery of PrNd oxide price has played a role in boosting the downstream to a certain extent, leading to partial replenishment demand. Tb and Ho prices are relatively strong. In addition to favorable factors of supply and demand fundamentals, capital inflow also plays a role in boosting. (Shanghai Nonferrous)

南方稀土发布6月22日稀土氧化物挂牌价

Listing Price of Rare Earth Oxides on Jun 22nd from China Southern Rare Earth

单位：万元/吨（出厂含税价）

Unit: 10,000RMB/Ton (EXW price incl. VAT)

3. 趋势图（参考亚洲金属网）Tendency Chart (refer to Asian Metal)

2020年06月28日

June 28th, 2020