太阳集团城娱8722稀土行情简报201628期（总第144期）07-16~07-22

JL MAG Rare-earth Industry Price Briefing07-16~07-22

2016年第30周

Week 30, 2016

1. 重要新闻简报Briefing of Important News

本周稀土市场镨钕价格有小幅下跌，镝铁价格稍涨，金属铽价格相对稳定。亚洲金属网价格:镨钕金属324-329元/KG，镝铁合金价格1220-1250元/KG，铽金属价格3450-3550元/KG。

This week the market price of PrNd has a slight decline but increase on DyFe, while the price of metal Tb is relatively stable. Prices from Asian Metal of this weekend present as: PrNd 324-329RMB/KG, yFe1220-1250RMB/KG, Tb metal 3450-3550RMB/KG.

2.业内人士分析Analysis of Professional Insiders

中国稀土行业协会数据显示，7月13日至19日，稀土价格指数连续多日维持在115.4。这意味着，目前稀土价格已基本回吐了二季度的涨幅，创下今年来的低点。

According to the data from China Rare Earths Industry Association, the rare earth price index remains as 115.4 from July 13th to 19th, which means the current rare earth price has pared the gains in the second quarter and reaches the lowest bottom of this year.

今年上半年，稀土市场可谓“时有风雨时有晴"。年初，受益于去年开启的大型稀土集团限产保价，以及监管部门持续打击稀土走私、非法开采等，稀土价格止跌回稳。受益于稀土商业储备持续推进和国储预期升温，5月份稀土价格持续反弹，轻稀土中的镨、钕，中重稀土中的钆、铽、镝、钬价格上涨明显。中国稀土工业协会数据显示，5月稀土价格指数从月初的117.3点上升至121.4点，创下今年来的高点。

In the past six months of this year, there's significant fluctuation in the rare earth market. In the beginning of this year, benefit from the measure of big rare earth groups in limiting production to protect the price and continuously strike on rare earth smuggling and illegal mining of supervision departments, the rare earth price bottomed out. Meanwhile benefit from the carrying forward of rare earth business reserve and national reserve, the rare earth price continuously rebound in May, the price of Pr, Nd in light rare earth and Gd, Tb, Dy, Ho in heavy rare earth rose significantly. According to the data from China Rare Earths Industry Association, the rare earth price index in May increased from 117.3 to 121.4 and reached the peak in this year.

6月7日，稀土国储招标会上，因招标价格不及参会稀土集团预期，9个品种共计3870吨的招标计划全部流标。受此影响，6月份稀土价格指数回调，从月初的121.4点回落至118点。7月，稀土价格指数仍继续回落，从13日到19日均维持在115.4。

In the rare earth national reserve bidding meeting on June 7th, as the bidding price is less than expectation of the rare earth groups, the bidding plan for nine kinds of products with a total 3870tons are all failed. Effect by it, the rare earth price index in June has dropped from 121.4 to 118 and in July, the index keeps dropping and remains as 115.4 from July 13th to 19th.

由于需求没有实质性改善、供应过剩等因素，导致价格上涨动力不足，基本回吐了前期涨幅。今年上半年，与上年同期水平相比，氧化物的价格均有较大幅度的下跌，其中氧化铕的价格跌幅大，为70.3%；氧化镨、氧化钕的降幅分别为22%和12.3%;氧化铽和氧化镝的降幅分别为31.7%和23.6%。

As the demands do not have substantial improvement, excess supply and other elements, the increasing on price is short of power and has pared the gains in the earlier stage. In the first half year, the price of oxides have a severe drop compare to the same period last year with the biggest drop on europium oxide of 70.3%. Praseodymium oxide and neodymium oxide has separately dropped in 22% and 12.3%; terbium oxide and dysprosium oxide has separately dropped in 31.7% and 23.6%.

7月中旬，稀土持货商不出货，下游采购情绪冷淡，虽然询盘人数有所增加，但也基本是以询价的方式试探市场，以贸易商居多，并采用快进快出的方式来减少后期价格可能再次下行的风险。

In the middle of July, the rare earth merchants are hold the product and reluctant to sell while the downstream purchasing emotion is low with only increasing in inquiries, while is basically spying on the market and most of them are traders. They use the fast in fast out method to reduce the risk of price decreasing in the later stage.

7月份后，国内下游备货开始，稀土下跌空间已然不大。如果减产、收储、打黑能够严格贯彻, 库存有望快速去化，再加上贸易商在收储预期下的囤货惜售行为，稀土价格已跌无可跌，在供给改革加码的背景下，稀土价格有望进入上涨通道，涨幅有望远超预期。

After the month of July, the stock up of downstream will start and there's no more space for the falling of rare earth price. If the reduction of output, rare earth purchasing and storage and strike on illegal can be strictly implemented, the current storage will be quick to sell out. The traders are reluctant to sell under the national purchasing and storage prospection, the rare earth price has reached the bottom. Under the background of supply reformation, the rare earth prices are expected to enter a rising channel with a sharply rise far more than expected.

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

2016年07月22日

July 22nd, 2016

提示：以上信息仅供参考！

Notes: the information above is for reference only!