as电玩

JL MAG Rare-Earth Industry Price Briefing 11-25~11-29

Week 48, 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357-362元/KG，镝铁合金价格1570-1590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 357-362 RMB/KG, DyFe 1,570-1,590 RMB/KG and Tb metal 4,330-4,380 RMB/KG.

2. 业内人士分析Analysis of Professional Insiders

本周稀土市场环比表现良好，但镨钕长期低位的现状并未改善，镝铽系产品因业内调控出现小幅上涨，但涨势逐步趋缓随后筑稳。

The rare earth market performed well this week, but the long-term low status of PrNd has not improved. The Dy-Tb products have risen slightly due to the regulation of the industry, but the rise has gradually slowed down and then stabilized.

因磁材厂常规月末采购，加上近期镨钕持续低位徘徊，成本压力较大，镨钕成有短暂小幅拉涨。镝铽上涨继续填补了业内成本的亏损，且主要动力在于重稀土企业的适当调控，收购力度有所放缓，镝铽价位开始趋于稳定。其他各系产品本周基本稳定，成细节上存在小幅波动。钆、钬、铒系产品随着镝铽上涨小幅上浮，但效果微弱。

Due to the regular month-end procurement of magnetic materials plants, coupled with the recent low level of PrNd, the cost pressure is greater, and the transaction of PrNd has slightly increased. Rising Dy-Tb products continued to make up for the loss in the industry's costs, and the main driving force was the appropriate control of leading heavy rare-earth companies, the acquisition efforts slowed, and the price began to stabilize. All other products were basically stable this week, with slight fluctuations in transaction details. Ga, Ho, Er series products rise slightly with the increase of Dy Tb series, but the effect is weak.

10月缅甸稀土进口大幅缩水，环比不足9月进口总量四分之一，腾冲恢复通关不久这与业内预期相悖，可能原因有二，9月一周的爆发涌入集中了缅甸相当一部分库存，而10月份部分矿山刚恢复生产，辅料及产量一时难以展开。

In October, Myanmar's rare earth imports shrank sharply, less than a quarter of the total imports in September. Tengchong resumed customs clearance soon, which was contrary to industry expectations. There may be two reasons: the outbreak in the last week of September concentrated a large part of Myanmar's inventory. Some mines just resumed production in October.

短期预测镨钕虽然短暂上涨后重归弱势，但近期无论原矿抑或油泥价格均相对较高，分离厂目前氧化镨钕报价已严格对应生产原料利润空间几乎为零，即使镨钕显示弱势但分离厂普遍挺价。金属镨钕目前交已然倒挂，采购冷淡期纵然有竞价现状，但目前金属厂承压趋近限。镨钕后期不太可能出现明显降幅。重稀土镝铽价位同样趋于稳定，但镝铽有望在现有价位保底，后续影响走势的市场因素变动不大，而涨幅是否再度出现，企业的调控作用将更为主要。（瑞道稀土资讯）

Although the short-term forecast of PrNd returns to a weak position after a brief rise, the price has been relatively high in recent years, regardless of the raw ore or sludge prices. The current price of PrNd oxide for the separation plant has strictly corresponded to the profit margin of the production raw materials being almost zero. The price from separation plant is generally very expensive. At present, the sales of metal PrNd are upside down. Although there is a bidding status in the cold procurement period, the pressure of metal plants is approaching the limit. It is unlikely that the PrNd will decrease significantly in the later period. The price of heavy rare earth Dy-Tb is also stabilizing, but it is expected to maintain a bottom at the current price. The subsequent market factors that affect the trend will not change much. Whether the increase will occur again, the leading role of the leading companies will be more important. (Ruidow Rare Earth Information)

南方稀土发布11月18日稀土氧化物挂牌价

Listing price on Nov 18th 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29日

Nov. 29th, 2019

提示：以上信息仅供参考！

Notes: the information above is for reference only!