JL MAG Rare-Earth Industry Price Briefing 10-19~10-23

Week 41,2020

1. 重要新闻简报Briefing of Important News

本周稀土市场行情，镨钕、金属钕、镝铁和铽的价格较为稳定。亚洲金属网周末价格: 镨钕金属价格410-415元/KG，金属钕价格440-445元/KG，镝铁合金价格1610-1630元/KG，金属铽价格6100-6150元/KG。

This week, prices of PrNd, Nd, DyFe and Tb keep stable. Price from Asian Metal at this weekend presented: PrNd metal 410-415 RMB /KG, Nd metal 440-445 RMB/KG, DyFe alloy 1,610-1,630 RMB/KG, and Tb metal 6,100-6,150RMB /KG.

2. 业内人士分析Analysis of Professional Insiders

本周延续了超过五周的下降趋势，是对前期短缺的修正阶段。由于目前全球稀土行业的资源开发相对集中，因此，上游原料厂商可以通过供应量调整，使稀土产品的价格在一定程度上回归相对合理的水平，从而缓解对全球稀土产业的冲击。

This week's downward trend of more than five weeks is a correction of the previous shortage. As the resource development of the global rare earth industry is relatively concentrated at present, the upstream raw material manufacturers can adjust the supply to make the price of rare earth products return to a relatively reasonable level to some extent, so as to alleviate the impact on the global rare earth industry.

稀土由于规模较小，生产相对集中，市场规模有限，已经形成了较快的上涨势头，目前看已经超过了下游承受力，市场自然的出现了回调。

Due to the small scale, relatively concentrated production and limited market scale, Rare earth has formed a relatively fast momentum of rise. At present, it seems that it has exceeded the downstream bearing capacity, and the market has a correction naturally.

如之前所分析的，最近几周资本市场出现了中等幅度的上下波动，显示市场处于不稳定的区间，多空力量均无明显把握，市场很大程度上受到疫情、国内经济数据和美欧等国经济的影响。本周大盘较之上周出现了较大的上涨，并且直接传导到稀土板块，从数据看，交易量大幅度上涨是主因，大部分投资者报以谨慎乐观的态度开始加入投资行列。（中国稀土）

As previously analyzed, the capital market has seen moderate fluctuation in recent weeks, indicating that the market is in an unstable range with no clear grasp of both bullish and bearish forces. The market is largely influenced by the epidemic, domestic economic data and the economies of the US and Europe. This week, the market has seen a larger increase than last week, and it is directly transmitted to the rare earth sector. From the data point of view, the substantial increase in trading volume is the main reason, and most investors began to join the investment ranks with a cautious and optimistic attitude. (Chinese Rare Earths)

南方稀土发布10月19日稀土氧化物挂牌价

Listing Price of Rare Earth Oxides on Oct 19th from CSRE

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)

2020年10月23日

Oct 23rd, 2020