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JL MAG Rare-Earth Industry Price Briefing 12-02~12-06

Week 49, 2019

1. 重要新闻简报Briefing of Important News

本周稀土市场行情，镨钕，镝铁和铽价格相对稳定。亚洲金属网价格: 镨钕金属价格360-365元/KG，镝铁合金价格1600-1620元/KG，金属铽价格4330-4380元/KG。

This week, prices of PrNd, DyFe and Tb were relatively stable. Price from Asian Metal at the weekend presented: PrNd metal 360-365 RMB/KG, DyFe 1600-1620 RMB/KG and Tb metal 4330-4380 RMB/KG.

2. 业内人士分析Analysis of Professional Insiders

本周稀土市场一致向上发展，主流镨钕镝铽产品报价及交均有连续提升，但轻重稀土涨速快慢有所差异，后续走势亦存在分歧。

This week, the rare earth market has been developing consistently upwards. The quotes and transactions of mainstream PrNd, Dy, and Tb product have continued to improve, but the light and heavy rare earth rose at different rates, and the follow-up trend is divergently.

金属镨钕周初部分大厂跟随氧化镨钕报价上调，但成少，下游采购集中在中小企业原有的低价库存，随着大厂报价范围和态度日益强烈，中小企业开始逐步试探上调，随后镨钕金属向主流报价靠拢。重稀头集团本周加大镝铽挺价力度，收购价位持续提高，受集团鼓舞，市场氧化镝铽成氛围有所回暖，成价位持续小幅上涨，后市镝铽走势依然可观。

At the beginning of the week, the PrNd metal followed the price of PrNd oxide increased, but the transaction is rare. The downstream procurement was concentrated in the original low-priced inventory of small and medium-sized enterprises. With the increasing of quotation range and initiative of major manufacturers, small and medium-sized enterprises begin to gradually upward adjust the price, and then PrNd metal moved closer to the mainstream quotation. Leading group of heavy rare earth increased propping up the prices of Dy, and Tb in this week, and the acquisition prices continue increasing. Encouraged by the group, the market of Dy and Tb oxide's transaction atmosphere has recovered. With transaction price raise slightly, the future market of Dy and Tb might doing well.

本周镨钕虽然表现上调，但后期大厂报价稳定，上涨动力明显消失。原料价位维持现有价位，但因下游产品倒挂，业内对废料后续走势不乏担忧。镨钕真实成涨幅也明显低于报价上调，企业年底回款、报表任务不同，金属镨钕报价范围拉大。

Although the performance of PrNd upward this week, the quotations of major manufacturers in the later period were stable, and rising momentum disappeared significantly. Raw material prices remain at current levels, but due to downstream products hanging upside down, industry concerns about the future trend of scrap. The actual turnover of PrNd is also significantly lower than the increase of the quotation which is the metal praseodymium quotation range. Due to the end-of-year repayments and different reporting tasks of enterprises, the range of metal PrNd prices has widened.

镝铽虽然同样存在后续金属倒挂及采购冷清的现象，但镝铽涨势仍大概率可以持续，业内心态较为统一，大厂报价力度判断仍将持续。氧化镝铽较有可能逆转市场规律再度持续上涨。（瑞道稀土资讯）

Despite Dy and Tb exists the phenomenon of subsequent metal upside-down and cold procurement, upward trend of Dy and Tb is still likely to continue. The mentality of the industry is relatively unified and the pricing of major manufacturers' quotation will continue. PrNd oxide is more likely to reverse market forces and continue to rise again. (Ruidow Rare Earth Information)

南方稀土发布12月2日稀土氧化物挂牌价

Listing price on Dec 2nd from China South 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)

2019年12月6日

Dec. 06th, 2019

提示：以上信息仅供参考！

Notes: the information above is for reference only!