Latest Update in the SMM Rare Earth Oxides Market

[SMM Rare Earth Weekly Review: Rare earth prices overall in the doldrums, with divergent trends across products and stagnant trading] Pr-Nd oxide prices were reported at 730,000-732,000 yuan/mt, falling first and then stabilizing during the week. From the beginning of the week to Wednesday, prices pulled back continuously along with the futures market, and low-priced offers increased at one point. On Thursday, the futures market stopped falling and recovered, and suppliers tentatively raised their quotations. Low-priced sources were somewhat reduced compared with the earlier period, but downstream willingness to chase higher prices remained limited, and actual transaction volumes continued to be constrained. Demand-side order growth was not obvious, and raw material purchases were mainly based on buying on dips.

[SMM Rare Earth Daily Review: Pr-Nd in the rare earth market stops falling and rebounds; downstream buying interest remains limited, with few transactions] Overall, the rare earth market currently lacks a clear unilateral driver, with bullish and bearish factors intertwined across varieties, and prices and transactions continuing the previous divergence trend. Although Pr-Nd series saw a slight upward probe, downstream willingness to chase higher prices remains limited, with actual negotiations mostly centered on low-priced cargoes and no significant expansion in overall transaction volume. On the medium-heavy rare earth side, dysprosium series still faces shipment pressure with lukewarm inquiries, while terbium series prices remain stable for now, with buyers and sellers turning to a wait-and-see stance. In the short term, whether Pr-Nd prices can continue to move higher still depends on the actual implementation of downstream orders, and prices may remain in a narrow consolidation range.

[Pr-Nd series stops falling and stabilizes, dysprosium and terbium metals continue to decline, magnetic material operating rates diverge with average activity] Yesterday, some suppliers of Pr-Nd oxide made relatively small price concessions on shipments, while factory offers remained relatively firm. Downstream inquiries and purchases were cautious, and transactions progressed slowly. Dysprosium oxide showed relatively strong resistance to declines, with little change in inquiries and limited variation in actual trading. Terbium oxide was difficult to transact at high prices, as downstream acceptance remained insufficient.

[SMM Rare Earth Daily Review: Rare earth prices overall in the doldrums, downstream inquiries and purchases cautious with limited transaction follow-through] Overall, although rare earth price trends and market trading activity weakened in tandem, the overall price decline was limited. Pr-Nd quotes continued to pull back but transaction volumes still showed no sign of expansion, with the buy-sell stalemate persisting. Within medium-heavy rare earths, trading was divergent: terbium saw increased discount-driven shipments, with transactions mostly concentrated in low-priced cargoes, while dysprosium, holmium, and erbium saw steady inquiries and stable quotes. In the short term, the price trend for Pr-Nd products still needs to be assessed against market trading conditions, and is likely to consolidate within a narrow range.

[Pr-Nd oxide futures weaken with lower offers, dysprosium and terbium metals follow the decline, magnetic material orders remain limited] Yesterday, spot Pr-Nd oxide offers were lowered in line with the futures, with more low-priced offers emerging. Downstream inquiries turned subdued, and actual transaction volumes remained difficult to increase. Dysprosium oxide pulled back slightly after several days of stability, with limited follow-through in actual deals. Terbium oxide offers continued to hold steady, while high-priced transactions remained blocked.

[SMM Rare Earth Daily Review: Pr-Nd Prices in the Rare Earth Market Decline Again, High-Price Transactions Blocked with Thin Trading] Overall, the rare earth market has entered a phase of differentiated adjustment, with price trends and market trading performance diverging simultaneously. Pr-Nd series quotes pulled back but transaction volumes have yet to expand, with the buyer-seller stalemate persisting; trading within medium-heavy rare earths also showed divergence, with dysprosium and terbium metals offering discounts to move shipments amid blocked high-price transactions, while inquiries for other varieties remained steady and quotes held firm. In the short term, the price trend of Pr-Nd products still needs to be observed in light of market trading conditions, and may continue to move sideways within a narrow range; medium-heavy rare earths, pulled in both directions by cost support and blocked high-price transactions, may see the divergence pattern persist.

[Pr-Nd oxide pulls back slightly with more low-priced cargoes, medium-heavy rare earth stays stable, magnetic material operating rates low with limited orders] Yesterday, spot Pr-Nd oxide offers edged down, low-priced cargoes increased somewhat, downstream purchase willingness was weak, and actual trading volume was insufficient; dysprosium oxide offers remained stable, with market inquiries mainly driven by rigid demand; terbium oxide also held flat, and high-priced cargoes faced considerable difficulty in closing deals.