[SMM Rare Earth Morning Briefing] Pr-Nd prices pull back slightly, and the trading atmosphere in the rare earth market remains subdued.

Published: Jul 7, 2026 09:41

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[Pr-Nd prices pull back slightly, rare earth market trading atmosphere subdued] Yesterday, scrap market prices pulled back slightly. Affected by the pullback in oxide quotes, recycling enterprises' external purchase quotes also fell in tandem. Suppliers were more cautious about shipments, and overall market trading was mediocre.

SMM July 7 News:

Rare Earth Ore

Prices: Rare earth carbonate price is about 61,100 yuan/mt, monazite price is about 44,000 yuan/mt, and medium-yttrium, europium-rich ore price is about 250,500 yuan/mt.

Supply and Demand: Currently, the overall circulation frequency of rare earth ore remains poor, with market trading at a stalemate. However, the rise in oxide prices has also raised actual transaction prices of rare earth ore.

Rare Earth Oxide

Prices: Pr-Nd oxide prices pulled back slightly, with low enthusiasm in market inquiries and quotes; medium-heavy rare earth prices overall remained relatively firm.

Supply and Demand: Yesterday, the Pr-Nd oxide market was relatively quiet. Some traders proactively sold at lower prices, but most suppliers were reluctant to quote, and downstream inquiries were also sluggish. For medium-heavy rare earths, some enterprises purchased dysprosium oxide and terbium oxide, and their prices overall still held up slightly well.

Rare Earth Metal

Prices: Pr-Nd alloy prices pulled back slightly, with sluggish market trading. Dysprosium-iron alloy and terbium metal prices remained stable.

Supply and Demand: Yesterday, Pr-Nd alloy prices pulled back slightly, with sluggish inquiries. Coupled with falling raw material prices, metal enterprises showed little enthusiasm for offering quotes, and prices were in the doldrums. Overall trading performance was poor. For medium-heavy rare earths, market inquiries were moderate, and metal enterprises' quotes remained generally stable.

NdFeB Blank

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

Supply and Demand: Yesterday, NdFeB blank quotations remained stable for now, mainly because stable raw material prices overall have kept NdFeB prices steady for the time being. In terms of transactions, limited by the completion of month-end rigid restocking from motors and end-users, orders for NdFeB enterprises were limited, and market trading activity was moderate.

NdFeB Scrap

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

Supply and Demand: Yesterday, scrap market prices pulled back slightly. Affected by lower oxide quotes, recycling enterprises simultaneously lowered their purchasing quotes. Suppliers were cautious in selling, and overall market trading was 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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