澳门人威尼斯3966(中国)有限公司

澳门人威尼斯3966稀土行情简报2514期（总第550期）04-14~04-18

JL MAG Rare-Earth Industry Price Briefing 04-14~04-18

Week 16，2025

1.    重要新闻简报Briefing of Important News

本周稀土市场行情，镨钕、金属钕、镝铁合金价格出现小幅下降，金属铽价格出现小幅上涨。亚洲金属网周末价格: 镨钕金属价格516-519元/KG；金属钕价格540-545元/KG；镝铁合金价格1620-1640元/KG；金属铽价格8750-8850元/KG。

In the rare earth market this week, the price of PrNd, Nd metal and DyFe alloy declined slightly, and the price of Tb metal rose slightly. The prices of Asian metal performed at the weekend: PrNd metal 516-519 RMB/KG; Nd metal 540-545 RMB/KG; DyFe alloy 1620-1640 RMB /KG; Tb metal price 8750-8850 RMB /KG.

2.    业内人士分析Analysis of Professional Insiders

本周（4月14日-4月18日）本周稀土市场偏弱运行，主流产品价格普遍下跌，市场活跃度一般，部分产品报价呈现冲高回落的趋势。上游分离厂挺价惜售，报价坚挺。但下游需求疲软，压价采购。在出口管制政策影响下，镝类产品小幅下跌，铽类产品价格冲高回落，供应趋紧，海外市场的价格波动，推动铽类高位震荡。

This week (14th - 18th April), the rare earth market exhibited weak performance, with prices of mainstream products generally declining under moderate market activity. Some product quotations showed a trend of rallying before pulling back. Upstream separation plants remained reluctant to sell and maintained firm prices. However, downstream demand remained sluggish, with buyers pressuring prices in procurement. Affected by export control policies, dysprosium-based products experienced a slight decline, while terbium-based prices surged before retreating. Tightening supply and price fluctuations in overseas markets have driven terbium-based products to fluctuate at elevated levels.

轻稀土方面，需求端受美国对进口汽车加征关税影响，中国钕铁硼磁材出口订单减少；中重稀土则因中国对镝、铽等7类中重稀土实施出口管制，国际市场出现恐慌性采购，镝铁合金海外报价较国内高出50%。政策层面，出口管制强化了中国对中重稀土的定价权，而工信部拟向高性能磁材倾斜开采指标，预计2025年镨钕氧化物配额同比增15%，结构性缓解供应过剩。市场情绪与政策预期交织，轻稀土短期受出口压制和替代技术冲击，价格承压；中重稀土则因战略资源属性和政策壁垒，被市场赋予更高溢价。长期来看，人形机器人国标立项和风电装机旺季来临，或为稀土需求提供新增长点。（包头稀土产品交易所）

For light rare earths, weakened demand has been observed as U.S. tariffs on imported vehicles reduced export orders for China’s NdFeB magnets. In contrast, the medium-to-heavy rare earth sector saw panic buying in international markets due to China’s export controls on seven categories including Dy and Tb, with overseas prices for DyFe alloy surging 50% above domestic levels. At the policy level, these export controls have strengthened China’s pricing power over medium-to-heavy rare earths. Meanwhile, the Ministry of Industry and Information Technology (MIIT) plans to prioritize mining quotas for high-performance magnetic materials, with PrNd oxide quotas projected to rise 15% year-on-year by 2025, structurally easing supply overcapacity. With market sentiment and policy expectations intertwined, light rare earths face short-term price pressures from export constraints and substitution technologies, while medium-to-heavy rare earths command higher premiums due to their strategic resource status and policy-driven supply barriers. Long-term demand growth may emerge from the establishment of national standards for humanoid robots and the approaching peak season for wind power installations, potentially unlocking new demand drivers for the rare earth sector. (Baotou Rare Earth Products Exchange)

3.趋势图（参考亚洲金属网）Tendency Chart (refer to Asian Metal)

2025 年04 月21 日

April 21st, 2025

提示：以上信息仅供参考！

Notes: the information above is for reference only!