According to the Commodity Market Analysis System of Shengyi Society, the price trend of heavy rare earths in the domestic market has declined since May. The prices of dysprosium oxide, dysprosium ferroalloy, and dysprosium metal have all declined. As of the 14th, the price of dysprosium oxide was 1.35 million yuan/ton, with a half month price decline of 4.26%; The price of dysprosium ferroalloy is 1.33 million yuan/ton, with a half month price decline of 3.27%; The price of dysprosium metal is 1.9 million yuan/ton, with a half month price decline of 1.04%.
Since May, the price trend of heavy rare earths in the market has declined. Due to weak terminal demand, market activity has gradually cooled down, and trading remains cautious. The demand for heavy rare earths in the market continues to be poor, and the inventory of dysprosium oxide is relatively high, resulting in most companies being cautious in their quotations. There are few low-priced sales, and the overall market sentiment is strong.
Downstream demand is extremely cautious in purchasing during the off-season
As the most important downstream, permanent magnet materials are facing a shortage of orders from magnetic material companies during the traditional off-season of new energy vehicles and wind power, resulting in a reduced operating rate of 60% -65%. Resulting in terminal price suppression, magnetic material factories purchase on demand, zero inventory, refuse high prices, and significantly reduce the demand for heavy rare earths. In addition, some mid to low end magnetic materials have reduced the addition of dysprosium and terbium, further suppressing demand and causing a decline in the market trend of heavy rare earths.
Restricted circulation+withdrawal of funds, sluggish market trading
The invoicing quota for rare earth trade is limited, resulting in increased transaction costs and decreased circulation efficiency. There is difficulty in obtaining goods and no market for valuable ones. Traders and magnetic material factories are watching from both sides, with few inquiries and weak transactions, making prices easy to fall but difficult to rise.
Market forecast: The decline in the heavy rare earth market in May is a short-term correction trend, driven by profit taking, off-season demand, liquidity and capital pressure, and expected cooling; In the medium to long term, rigid supply and new energy demand support the upward shift of the price center, and there is still room for rebound after a pullback.
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