Rare earth prices overall weak, downstream cautious, transactions sluggish [SMM Rare Earth Daily Review]

Published: Aug 6, 2026 13:44

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[SMM Rare Earth Daily Review: Rare Earth Prices Generally Weak, Downstream Wait-and-See Keeps Transactions Sluggish] Overall, affected by downstream magnetic material enterprises' wait-and-see approach to inquiries, market trading activity remains persistently sluggish, rare earth prices are generally in the doldrums, and actual transactions are still weak. In the short term, influenced by the stalemate in the tug-of-war between upstream and downstream, Pr-Nd product prices may continue to move sideways.

SMM August 6: Today, rare earth market prices were overall in the doldrums. Specifically, in the oxide market, Pr-Nd oxide prices fell by 3,000 yuan/mt, dysprosium oxide prices were flat, terbium oxide prices fell by 15,000 yuan/mt, gadolinium oxide prices fell by 3,500 yuan/mt, holmium oxide prices fell by 2,500 yuan/mt, and erbium oxide prices were flat.

In the metal market, Pr-Nd alloy prices were flat, dysprosium-iron alloy prices were flat, terbium metal prices fell by 50,000 yuan/mt, gadolinium-iron alloy prices fell by 7,000 yuan/mt, holmium-iron alloy prices fell by 5,000 yuan/mt, and lanthanum-cerium metal (alloy grade) prices were flat.

Currently, rare earth market prices were overall in the doldrums. Focusing on the Pr-Nd market, driven by the recovery in Pr-Nd oxide futures prices, spot oxide suppliers raised their offers compared to yesterday afternoon, but as downstream inquiries and purchases remained limited, actual gains were limited, and prices still showed a downward trend compared to yesterday morning. On the metal market side, supported by oxide costs, suppliers edged up their offers slightly from yesterday afternoon, but downstream magnetic material enterprises were mostly wait-and-see in their inquiries, leaving prices basically flat compared with yesterday morning, and overall transactions were in a stalemate.

On the medium-heavy rare earth market side, market inquiries showed no improvement, suppliers of terbium, gadolinium, holmium and other products continued to lower their offers, wait-and-see sentiment was strong, and actual transactions were poor. Overall, influenced by the wait-and-see approach of downstream magnetic material enterprises in inquiries, market trading activity remained subdued, rare earth prices were overall in the doldrums, and actual transactions remained weak. In the short term, affected by the tug-of-war and stalemate between upstream and downstream, Pr-Nd product prices are expected to continue moving sideways.

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