MP Materials Q2 2026: Pr-Nd Oxide Production Up 41%, Sales Surge 127%, New Supply Deal and Magnet Shipments Ahead

[SMM Rare Earth Daily Review: Stalemate in Upstream-Downstream Tug-of-War Holds Rare Earth Prices Steady] Overall, downstream inquiries have yet to increase significantly, while upstream suppliers maintain a strong intent to hold prices firm. The rare earth market remains in a stalemate of tug-of-war between upstream and downstream, with prices showing no significant fluctuations overall. In the short term, affected by the stagnant market trading, Pr-Nd product prices are expected to maintain a pattern of moving sideways in a narrow range.

[Pr-Nd Series Under Pressure and Weakening, Medium-Heavy Rare Earths Hold Steady, Magnetic Material Scrap Game Continues] Yesterday, affected by fluctuations in futures prices, bearish sentiment continued to spread in the market. The wait-and-see sentiment among downstream metal plants further intensified, with purchase willingness remaining sluggish; most upstream suppliers have stopped offering prices, while some traders were still selling at low prices, putting market transactions under pressure; in the medium-heavy rare earths sector, the markets for dysprosium oxide and terbium oxide saw relatively small changes, with prices remaining relatively stable.