[SMM Rare Earth Morning Briefing] Light Rare Earth Prices Under Pressure, Medium-Heavy Rare Earth Market Remains Stable

Published: Jul 29, 2026 09:31

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[Light rare earth prices are under pressure, medium-heavy rare earth market remains stable] Currently, the overall circulation frequency of rare earth ores is still poor, the market trading situation is stagnant, and weak oxide prices have led to a decline in actual transaction prices of rare earth ores.

SMM July 29 News:

Rare Earth Ore:

Price: Medium-yttrium, europium-rich ore price is about 252,000 yuan/mt, rare earth chloride flakes price is about 63,500 yuan/mt, monazite price is about 44,000 yuan/mt.
Supply and Demand: Currently, the overall circulation frequency of rare earth ore remains sluggish, with a stagnant market trading atmosphere. Weak oxide prices have also led to a decline in actual transaction prices for rare earth ore.

Rare Earth Oxides:

Price: Pr-Nd oxide market offers continued to be in the doldrums, with few actual transactions; dysprosium oxide and terbium oxide offers remained stable.
Supply and Demand: Yesterday, affected by news factors and futures price fluctuations, Pr-Nd oxide offers declined further. However, in the afternoon, inquiry activity in the Pr-Nd market picked up slightly, and Pr-Nd prices began to stop falling, with some metal plants’ purchase willingness edging up slightly. In the medium-heavy rare earth sector, dysprosium oxide and terbium oxide prices were relatively stable, with no obvious fluctuations yet.

Rare Earth Metals:

Price: Pr-Nd alloy prices were in the doldrums, but market trading activity increased, while dysprosium-iron alloy and terbium metal prices remained flat.
Supply and Demand: Yesterday, affected by the decline in oxide prices, quotes from metal suppliers continued to pull back. However, in the afternoon, inquiries from magnetic material enterprises increased, with actual transactions gradually following. Low-priced supply began to tighten, and supplier quotes stopped falling and stabilized. In the medium-heavy rare earth market, inquiries were average, with dysprosium and terbium prices seeing no significant adjustments, operating smoothly overall.

NdFeB Blanks:

Price: NdFeB blank N40 (Ce) was quoted at 220-230 yuan/kg, NdFeB blank 40M at 261-271 yuan/kg, and NdFeB 40UH at 365-385 yuan/kg.
Supply and Demand: Yesterday, NdFeB blank offers pulled back slightly, mainly due to the decline in raw material prices leading to lower NdFeB prices. In terms of trading, as July drew to a close, high temperatures hit various regions across China, and motor factories and end-users gradually entered their summer holiday period. The operating rate of motor factories and end-users weakened significantly, reducing demand for rare earth permanent magnets, ultimately keeping NdFeB market trading activity sluggish.

NdFeB Scrap:

Price: 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 & Demand: Yesterday, scrap market prices pulled back slightly. Affected by the pullback in oxide prices, external purchase offers of recycling enterprises also pulled back slightly, but scrap suppliers' shipment sentiment turned cautious, leading to a reduction in the circulation of compliant, tax-included scrap in the market, with market trading remaining weak.

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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