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JL MAG Rare-Earth Industry Price Briefing 03-02~03-06

Week 10, 2020

1.     重要新闻简报Briefing of Important News

本周稀土市场行情，镨钕价格相对稳定，镝铁和金属钕价格小幅上涨，铽的价格大幅上涨。亚洲金属网周末价格: 镨钕金属价格350-355元/KG，金属钕价格380-385元/KG，镝铁合金价格1810-1830元/KG，金属铽价格5300-5350元/KG。

This week, price of PrNd was relatively stable while DyFe and Nd increased slightly and Tb has a big increase. Price from Asian Metal at this weekend presented: PrNd metal 350-355 RMB/KG, Nd metal 380-385 RMB/KG, DyFe alloy 1,810-1,830 RMB/KG and Tb metal 5,300-5,350RMB/KG.

2.       业内人士分析Analysis of Professional Insiders

本周稀土市场波动环比收窄，无论轻稀土镨钕还是重稀土其分化走势均开始缓和，且金属相对氧化物倒挂仍然存在。因重稀土原矿供给仍未恢复，其余重稀土产品表现稳健。南方挂牌上调再次带动镝铽成交上移，但相比上周上涨幅度趋于理性。

This week, the rare earth market fluctuations narrowed, the differentiation trend of light rare earth PrNd and heavy rare earth began to ease, and the metal relative oxide price inversion still exists. As the supply of heavy rare earth raw ore has not yet recovered, the rest of the heavy rare earth products performed steadily. The China Southern Rare Earth listing prices increased again which led to an uptick in Dy and Tb sales, but the increase were more rational than last week.

随着稀土行业复工率加大，上游整体产能在逐步恢复正常，且随着指标的放开，轻稀土厂家产量比去年同期预期有所增加，国外轻稀土进口仍预计大幅增长，轻稀土供给失衡将对长期镨钕走势造成较大压力。业内轻稀土厂家对此观点多保持一致，提升产量降低能耗提升收得率成为当下新的竞争方向。

With the increase of rare earth industry resumption rate, the overall upstream production capacity is gradually returning to normal, and with the opening of quota, the output of light rare earth manufacturers has increased compared with the same period last year. Foreign light rare earth imports are still expected to increase substantially, and the imbalance of light rare earth supply will cause big pressure on the long-term trend of PrNd price. Light rare earth manufacturers in the industry are mostly consistent with this view, increasing production, reducing energy consumption and increasing yield become a new competitive direction at present.

据相关人士透露，缅甸矿山已有小范围复产，但受疫情管控和辅料限制，产能压缩严重，南方企业原矿供给仍远远未及正常水平，废料回收虽也能提供部分重稀土供给但仍不能缓解原矿短缺来带的缺口，重稀土镝铽及钬仍能保持稳健态势。（瑞道稀土资讯）

According to relevant sources, Myanmar's mines have resumed production in a small scale, but restricted by epidemic control and restriction of auxiliary materials, the production capacity is severely compressed. Southern ore supply is still far lower than normal. Although waste recycling can also provide part of heavy rare earth supply, it still cannot alleviate the shortage of raw ore, heavy rare earth Dy, Tb and Ho can still maintain a stable situation. (Ruidow Rare Earth Info)

南方稀土发布3月2日稀土氧化物挂牌价

Listing Price of Rare Earth Oxides on Mar. 02nd from China Southern Rare Earth

单位：万元/吨（出厂含税价）

Unit: 10 thousand rmb/ton (EXW price incl. Tax)

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

2020年3月6日

Mar 06th, 2020

提示：以上信息仅供参考！

Notes: the information above is for reference only!