JL MAG Rare-Earth Industry Price Briefing 04-20~04-24

Week 17, 2020

1.     重要新闻简报Briefing of Important News

本周稀土市场行情，镨钕、金属钕和镝铁的价格相对稳定，铽的价格略有下降。亚洲金属网周末价格: 镨钕金属价格330-335元/KG，金属钕价格353-358元/KG，镝铁合金价格1770-1790元/KG，金属铽价格5000-5050元/KG。

This week, prices of PrNd, Nd Metal and DyFe were relatively stable，price of Tb fell slightly. Price from Asian Metal at this weekend presented: PrNd metal 330-335 RMB/KG, Nd metal 353-358 RMB/KG, DyFe alloy 1,770-1,790 RMB/KG, and Tb metal 5,000-5,050 RMB/KG.

2.       业内人士分析Analysis of Professional Insiders

本周稀土下游仍面临着国外疫情造成的订单萎靡，国内稀土成交量持续低迷。稀土主流价位处于较低位置，上游企业基于成本高压力挺报价，整体价位在当下低位艰难徘徊。

This week the downstream of rare earth industry is still facing sagging orders caused by the epidemic oversea, and domestic trading volume of rare earth continued to be low. The mainstream price of rare earth is in a low position, upstream enterprises support quotation due to high cost pressure, and the overall price is hovering at the current low level.

与此同时，镨钕价位已经跌到大多数分离厂的盈亏线，尤其废料回收企业，缺乏相对低价原料成本压力更高，难以继续下调镨钕与少数优势企业竞争。重稀土镝铽价位虽然保持中高位稳定，但背后缺乏成交支撑，下游少量刚需对散货缓慢消耗，而主要库存则集中在大厂，在需求长期低迷的环境下，大厂保持较高报价，同时年度内国储作为支撑预期，重稀土镝铽堪堪维稳。

At the same time, price of PrNd has fallen to the profit and loss line of most separation plants, especially the waste recycling enterprises which are difficult to compete with several advantageous enterprises by continuing to reduce price of PrNd due to lack of relatively low raw material cost and have higher pressure. Although prices of heavy rare earth Dy and Tb remain stable at a medium high level, a small amount of downstream rigid demand consumed bulk goods slowly with deficient transaction support behind. While the main inventory is concentrated in large factories, large factories maintain a high price under the environment of long-term downturn in demand. Meanwhile, the annual domestic reserve as a support expectation, heavy rare earth Dy and Tb can maintain stability.

短期预测：国内稀土走势短期内受国外疫情直接影响，未来海外终端企业复工率成为重点，疫情正值衰减期，欧美国家对于经济复苏的需求日益迫切，下月局部性的复工将会出现。（瑞道稀土资讯）

Short term forecast: in the short time, the trend of domestic rare earth is directly affected by the epidemic oversea. In the future, the re-cover rate of overseas end enterprises will become the key point. The demand for economic recovery in Europe and the United States is increasingly urgently as the epidemic is in a declining period, and local work resumption will appear next month. (Ruidow Rare Earth Information)

目前,中国氧化镨钕主流价格为257,000-262,000元/吨出厂现金,较一周前相同。主要供应商的报价较上周四上涨2,000元/吨至当前的260,000元/吨，并且无意以低于259,000元/吨的价格出货。由于当前价格较低以及有关国储的传言,过去一周部分贸易商和消费商积极采购。然而，主要消费商目前仅按已收到的订单进行采购，并且对后市持悲观态度。鉴于现货市场僵持，业内人士预计未来一周中国氧化镨钕价格将呈现平稳走势。北京(亚洲金属) 2020-4-21

At present, the mainstream EXW cash price of PrNd oxide in China is 257,000-262,000 RMB/ton which is the same as a week ago. Major suppliers’ quotation rose 2000 RMB/ton from last Thursday to the current 260,000 RMB/ton, and they’re not intended to ship at a price lower than 259,000 RMB/ton. Due to the current low price and rumors about the State Reserve, some traders and consumers have been actively purchasing in the past week. However, at present, the major consumers only purchase according to the orders received, and they are pessimistic about the future market. In view of the stalemate in the spot market, industry insiders expect that the price of PrNd in China will show a stable trend in the next week. Beijing (Asian Metal) 2020-04-21

南方稀土发布4月20日稀土氧化物挂牌价

Listing Price of Rare Earth Oxides on Apr. 20th 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4月24日

Apr 24th, 2020

提示：以上信息仅供参考！

Notes: the information above is for reference only!