[SMM Rare Earth Morning Briefing] Pr-Nd oxide offer prices raised, while high-price transactions remain difficult in the rare earth market

Published: Jul 2, 2026 09:40

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[Pr-Nd Oxide Quotations Raised, High-Price Transactions in Rare Earth Market Remain Difficult] Yesterday, scrap market prices edged up slightly, mainly influenced by the slight increase in oxide quotations. Recycling enterprises raised their external purchase quotations in tandem, but downstream suppliers showed strong overall wait-and-see sentiment, and actual market transactions were mediocre.

SMM July 2:

Rare Earth Ore

Prices: Medium-yttrium, europium-rich ore prices are about 249,000 yuan/mt, monazite prices are about 42,500 yuan/mt, and rare earth carbonate prices are about 60,500 yuan/mt.

Supply and Demand: At present, the overall circulation frequency of rare earth ore remains sluggish, procurement volumes from separation plants are low, market trading is stagnant, and actual transaction prices of rare earth ore are fluctuating only modestly.

Rare Earth Oxide

Prices: Market quotes for Pr-Nd oxide continued to edge up slightly, but factories exerted strong pressure to push for lower prices in their inquiries; medium-heavy rare earth prices remained stable.

Supply and Demand: Yesterday, affected by purchases from major producers, market quotes for Pr-Nd oxide rose noticeably, but actual procurement by metal plants was not active, with most buyers still inquiring at 750,000 yuan/mt; for medium-heavy rare earths, trader inquiries for dysprosium oxide were relatively active, but at lower prices, and actual transaction prices have not changed significantly yet.

Rare Earth Metal

Prices: Pr-Nd alloy prices remained stable, market inquiries were moderate, and prices of dysprosium-iron alloy and terbium metal were steady.

Supply and Demand: Yesterday, Pr-Nd alloy prices were stable, downstream magnetic material enterprises' inquiries were moderate, high-price transactions were difficult, and metal producers' offers showed no noticeable adjustments. For medium-heavy rare earths, although market inquiries became more active, they were at relatively low prices, and metal producers generally held their offers steady due to difficulty in sourcing low-priced oxides.

NdFeB Blank

Prices: NdFeB blank N38 (Ce) was quoted at 218-228 yuan/kg, NdFeB blank 38M was quoted at 261-271 yuan/kg, and NdFeB 38UH was quoted at 363-383 yuan/kg.

Supply and Demand: Yesterday, NdFeB blank offers remained temporarily stable, mainly because raw material prices also remained temporarily stable, supporting NdFeB prices. In terms of trading, as month-end restocking demand from motor and end-user sectors concluded, orders for NdFeB enterprises were limited, and market trading activity was moderate.

NdFeB Scrap

Prices: Pr-Nd recycled from NdFeB scrap prices edged up slightly, while dysprosium recycled from NdFeB scrap and terbium recycled from NdFeB scrap prices remained stable.

Supply and Demand: Yesterday, scrap market prices edged up slightly, mainly due to the slight increase in oxide quotes, with recycling enterprises raising their procurement offers accordingly. However, downstream suppliers generally maintained a strong wait-and-see sentiment, and actual transactions were moderate.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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