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JL MAG Rare-Earth Industry Price Briefing 10-28~11-01

Week 44, 2019

1. 重要新闻简报Briefing of Important News

本周稀土市场行情，镨钕，镝铁和铽价格都继续小幅下调。亚洲金属网价格: 镨钕金属价格365-370元/KG，镝铁合金价格1530-1550元/KG，金属铽价格4550-4600元/KG。

This week, prices of PrNd, DyFe and Tb continued to fall slightly. Price from Asian Metal at the weekend presented: PrNd metal 365-370 RMB/KG, DyFe 1,530-1,550 RMB/KG and Tb metal 4,550-4,600 RMB/KG.

2. 业内人士分析Analysis of Professional Insiders

本周镨钕出现震荡波动，但整体稀土市场仍显弱势。短暂的下游采购集中使得镨钕产品出现了小幅拉涨，但上涨时间昙花一现，需求衰减后镨钕走势仍回到弱势常态。随着南方各企业成本压力不断增加，企业间让价空间压缩，低位货源出货意愿不强。

This week, PrNd fluctuated while the overall rare earth market is still weak. The short-term downstream procurement concentration caused a slight rise in PrNd products, but the rise time was short-lived, and the trend of PrNd finally returned to the weak normal after the demand decline. With the increasing cost pressure of southern enterprises, the space for price concession among enterprises is compressed, and the willingness to ship low-level goods is not strong.

进入月末国外长假即将到来，磁材厂传统外单旺季到来，加之长期弱势以来下游采取克制的刚需采购，磁材库存相对不足，本周出现了一波采购集中。随着询单量的增加，金属厂试探性上调并初具成效，行业自下而上，镨钕开始小幅反弹。

At the end of the month, the oversea long holiday is approaching, and the traditional peak season of magnetic material factory is coming. In addition, due to the long-term weakness of the downstream to take restraint in the rigid demand procurement, the magnetic material inventory is relatively insufficient, and this week there is a wave of centralized procurement. With the increase of inquiries, the metal factory tentatively raised prices and achieved initial results. From downstream to upstream, PrNd began to rebound slightly.

重稀土本周表现仍不理想，虽然厂家报价逐步向成趋近表现为快速下滑，但就成来看弱势相对趋缓。自腾冲海关恢复后氧化镝价位一路下滑，150万元/吨的价位已经到了大部分持货厂家的采购成本，继续下滑承压较大。为稳定市场同时也为保证行业正常生产，重稀土企业本周开始对氧化镝保价收购，以维持氧化镝在合理水平。

Heavy rare earth is still not performing well this week. Although the manufacturer's quotation is gradually approaching the transaction, which shows a rapid decline, but in terms of the transaction, the weak trend is relatively slow. Since the recovery of Tengchong customs, the price of Dy oxide has declined all the way. The price of 1,500,000RMB/TON has reached the purchase cost of most of the goods holding manufacturers, which continues to decline under great pressure. In order to stabilize the market and ensure the normal production of the industry, the leading heavy rare earth enterprises began to purchase Dy oxide at a guaranteed price this week to maintain the reasonable price level of Dy oxide.

后续判断，镨钕金属采购热度逐步衰减，镨钕系产品可能继续弱势下行，但无论从成本抑或厂家生产状态，镨钕继续下行的空间不大，弱势应相对缓和。重稀土走弱因素仍然存在，但高位库存给企业带来的压力必然促使其在当下价位附近缓慢消耗，排除国储等重大利好因素的情况下，整体仍大概率以弱稳为主。（瑞道稀土资讯）

According to the follow-up judgment, the purchasing of PrNd metal is gradually declining, and PrNd products may continue to decline in a weak direction. However, no matter from the cost or the manufacturer's production status, there is little room for PrNd to continue to decline, and the weak direction should be relatively eased. The weakening factors of heavy rare earth still exist, but the pressure brought by high inventory to enterprises will inevitably cause them to consume slowly near the current price. Excluding the major favorable factors such as national reserve, the overall market is still dominated by weak stability. (Rui Dow Rare Earth Information)

南方稀土发布10月29日稀土氧化物挂牌价

Listing price on Oct 29th 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11月01日

Nov. 01st, 2019

提示：以上信息仅供参考！

Notes: the information above is for reference only!