SMM April 30: The Pr-Nd oxide market this week exhibited an overall fluctuating pattern of initial decline followed by recovery. At the beginning of the week, disturbed by bearish factors on the news front, market sentiment pulled back notably. Some traders, with confidence shaken, proactively adopted low-price shipments strategies to recover funds or mitigate risks, causing mainstream transaction prices to quickly drop to around 760,000 yuan/mt. According to feedback from some metal plants, a small volume of spot cargo even traded below 760,000 yuan/mt at this level, and pessimistic sentiment spread early in the week.
Entering mid-week, market sentiment gradually recovered. Spot inventory at separation plants and traders remained at low levels, with most suppliers unwilling to continue lowering prices for shipments and showing strong willingness to hold prices firm. Quotes returned to a firm stance, supporting Pr-Nd oxide prices to stabilize and rebound above 770,000 yuan/mt.
From a supply-demand sentiment perspective, the tight spot circulation pattern on the supply side remained unchanged, with suppliers holding back from selling strongly, providing bottom support for prices. However, demand side performance was relatively weak — downstream metal plants only released small restocking demand when prices hit bottom. As prices rebounded, their wait-and-see sentiment intensified again. Transaction activity in the rare earth oxide market was poor, with trading atmosphere remaining sluggish and follow-through at high levels clearly insufficient. Looking ahead, the brief pessimistic sentiment shock has largely subsided, and most market participants remain confident in the Pr-Nd oxide market. Upstream separation plants maintained firm quotes, and Pr-Nd oxide prices are expected to continue to fluctuate upward amid the tug-of-war between upstream and downstream in the near term.
