[SMM Rare Earth Morning Meeting Summary] Pr-Nd Oxide Falls Below 750,000 Mark, Scrap Recycling Procurement Difficulty Increases.

Published: Jul 30, 2026 09:46

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[Pr-Nd oxide fell below the 750,000 CNY/ton mark, making scrap recycling procurement more difficult] Yesterday, affected by fluctuations in futures prices, offers for Pr-Nd oxide in the market pulled back further after the afternoon session. Suppliers, with poor inventory positions, showed low willingness to quote at low prices, while downstream metal plants maintained a strong wait-and-see sentiment, leading to poor Pr-Nd market transactions. In the medium-heavy rare earth sector, downstream demand remained persistently weak, but supplier quotations stayed firm, keeping dysprosium oxide and terbium oxide prices stable.

SMM July 30 News:

Rare Earth Ore:

Price:The price of medium-yttrium, europium-rich ore is about 251,000 yuan/mt, rare earth chloride flake price is about 63,500 yuan/mt, and rare earth carbonate price is about 60,800 yuan/mt.
Supply and Demand:Currently, the overall circulation frequency of rare earth ore remains poor, with market trading stagnant. The weaker oxide prices have also led to a downward adjustment in actual transaction prices of rare earth ore.

Rare Earth Oxides:

Price:Pr-Nd oxide market quotes fell further, dropping below 750,000 yuan/mt; dysprosium oxide and terbium oxide quotes remained relatively stable.
Supply and Demand:Yesterday, affected by futures price fluctuations, Pr-Nd oxide market quotes pulled back further after the afternoon session. Suppliers had limited inventory, with low willingness to offer at low prices. Downstream metal plants held heavy wait-and-see sentiment, and Pr-Nd market transactions were poor. On the medium-heavy rare earth side, downstream demand remained weak, but supplier quotes stayed firm, keeping dysprosium oxide and terbium oxide prices stable.

Rare Earth Metals:

Price:Pr-Nd alloy prices were relatively firm, but market inquiry activity was low. Dysprosium-iron alloy and terbium metal prices remained flat.
Supply and Demand:Yesterday, affected by oxide price fluctuations, metal supplier quotes were relatively firm, but market inquiry activity was low. Trading atmosphere was sluggish, and actual transactions were stagnant. In the medium-heavy rare earth market, inquiry performance remained sluggish, with no significant adjustment in dysprosium and terbium prices, maintaining overall stable operation.

NdFeB Blanks:

Price:NdFeB blank N35 (Ce) quoted at 210-220 yuan/kg, NdFeB blank 35M quoted at 255-265 yuan/kg, NdFeB 35UH quoted at 355-375 yuan/kg.
Supply and Demand:Yesterday, NdFeB blank quotes remained temporarily stable, mainly because raw material prices were stable, supporting NdFeB quote stability. In terms of trading, as July ended, high-temperature weather hit various regions of China. Motor plants and end-users gradually began high-temperature holidays, significantly weakening the operating rates of motor plants and end-users. This reduced demand for rare earth permanent magnets, ultimately leading to consistently sluggish trading activity in the NdFeB market.

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 held steady.
Supply and Demand: Yesterday, scrap market prices pulled back slightly. Affected by fluctuations in oxide prices, external purchase quotations from recycling enterprises pulled back slightly, but scrap suppliers' attitudes toward shipments turned cautious, leading to a decrease in the circulation of compliant, tax-paid scrap in the market and making procurement more difficult for recycling enterprises.

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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