[SMM Rare Earth Morning Briefing] Pr-Nd prices hold steady, tight supply of terbium and holmium bolsters medium-heavy rare earths

Published: Jul 10, 2026 09:46

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[Pr-Nd prices remain stable, while tight terbium-holmium supply supports medium-heavy rare earth strength] Yesterday, the scrap market prices were stable. Affected by the relatively small fluctuations in oxide quotations, recycling enterprises' external purchase offer prices did not show significant fluctuations, with just-in-time procurement dominating, and actual market transactions were moderate.

SMM, July 10:

Rare Earth Ore

Prices: Rare earth chloride flake prices were about 63,500 yuan/mt, monazite prices about 44,000 yuan/mt, and medium-yttrium, europium-rich ore prices about 255,000 yuan/mt.

Supply and demand: Currently, the overall trading frequency of rare earth ores remained sluggish, with market trading in a stalemate. However, the rise in oxide prices has also driven up actual transaction prices of rare earth ores.

Rare Earth Oxides

Prices: Pr-Nd oxide prices were generally stable; terbium oxide prices continued to rise rapidly.

Supply and demand: Yesterday, the inquiry and trading atmosphere in the Pr-Nd oxide market was sluggish, but most producers maintained firm quotes, and low-priced sources remained scarce. In the medium-heavy rare earth sector, shipments from terbium oxide and holmium oxide suppliers remained tight, and their quotes rose rapidly.

Rare Earth Metals

Prices: Pr-Nd alloy prices held steady, with sluggish market inquiries. Dysprosium-iron alloy held steady, and terbium metal prices continued to increase.

Supply and demand: Yesterday, Pr-Nd alloy prices held steady. Although overall market inquiries were sluggish, metal producers maintained firm quotes due to oxide cost support, and actual trading performance was poor. In the medium-heavy rare earth sector, as low-priced oxide sources were hard to find, terbium metal prices continued to rise driven by costs, while dysprosium-iron alloy prices remained stable.

NdFeB Blank

Prices: NdFeB blank N38 (Ce) was quoted at 221-231 yuan/kg, the 38M blank at 264-274 yuan/kg, and the 38UH blank at 366-386 yuan/kg.

Supply and demand: Yesterday, NdFeB blank quotes were temporarily stabilized, primarily because raw material prices remained stable, driving NdFeB prices to operate steadily. In terms of trading, as the off-season approached, orders from end-user and downstream motor customers were mediocre, with limited just-in-time restocking volumes. This was transmitted to NdFeB producers, resulting in limited order intake and no large-volume orders yet.

NdFeB Scrap

Prices: Prices of Pr-Nd recycled from NdFeB scrap, dysprosium recycled from NdFeB scrap, and terbium recycled from NdFeB scrap all remained stable.

Supply and demand: Yesterday, scrap market prices remained stable. As oxide quotes showed relatively small fluctuations, recycling enterprises' external procurement quotes did not experience significant changes, with just-in-time procurement being the main mode. Actual market trading performance was average.

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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