Rare Earth Prices in the Doldrums, Market Trading Remains Sluggish [SMM Rare Earth Daily Review]

Published: Jul 21, 2026 14:09

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[SMM Rare Earth Daily Review: Rare earth prices in the doldrums, market trading remains sluggish] Overall, rare earth market prices are generally in the doldrums, mainly affected by multiple factors such as disappointing downstream new orders, a sluggish market trading atmosphere, and a decline in Pr-Nd oxide futures prices, prompting suppliers to lower their quotes slightly. In the short term, impacted by the stalemate in market trading, Pr-Nd product prices will likely move sideways.

SMM, July 21: Rare earth market prices were in the doldrums today. Specifically, in the oxide market, Pr-Nd oxide prices fell by 7,000 yuan/mt, dysprosium oxide prices fell by 10,000 yuan/mt, terbium oxide prices fell by 50,000 yuan/mt, gadolinium oxide prices remained flat, holmium oxide prices remained flat, and erbium oxide prices rose by 30,000 yuan/mt.

In the metal market, Pr-Nd alloy prices fell by 5,000 yuan/mt, dysprosium-iron alloy prices fell by 15,000 yuan/mt, terbium metal prices fell by 75,000 yuan/mt, gadolinium-iron alloy prices remained flat, holmium-iron market prices remained flat, and lanthanum-cerium metal (alloy grade) prices remained flat.

Currently, the overall rare earth market exhibited a weak price trend. Focusing on the Pr-Nd market, Pr-Nd oxide futures prices pulled back, while market inquiry prices were low. Affected by these two factors, Pr-Nd oxide suppliers slightly lowered their offers. However, factory quotations were relatively firm, and low-priced cargoes remained hard to find. In the metal market, prices fell in tandem, but the inquiry situation did not improve as a result. Downstream magnetic material enterprises adopted a cautious purchasing stance, mainly buying to restock based on rigid demand. The upstream and downstream were locked in an intense stalemate, with actual transactions stagnant.

In the medium-heavy rare earth market, due to persistently sluggish inquiries, prices for products such as dysprosium and terbium dipped slightly. However, new orders downstream were less than ideal, and actual transactions remained sparse. In contrast, prices for products like gadolinium and holmium were relatively stable. Overall, rare earth market prices were in the doldrums, mainly influenced by multiple factors, including weak new downstream orders, a sluggish trading atmosphere, and lower Pr-Nd oxide futures prices, leading suppliers to slightly reduce their offers. It is expected that in the short term, affected by a stagnant market, Pr-Nd product prices will likely consolidate and move sideways.

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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