China's Rare Earth Magnet Exports Down in July 2026, SMM Forecasts 7% Annual Growth

[SMM Rare Earth Weekly Review: Oxide Prices Diverge, Market Transactions Generally Sluggish] This week, Pr-Nd oxide prices were generally stable with a weak tone, with the center pulling down slightly. At the beginning of the week, market transactions were sluggish, suppliers were not willing to quote, and some suppliers refused to offer prices. However, downstream metal plants' purchase willingness remained poor, and large magnetic material companies did not enter the market for procurement as expected, leaving market inquiries sluggish. From Tuesday, prices pulled back slightly, and some traders continued to sell at low prices, leading to a spread of market pessimism. As of Thursday, Pr-Nd oxide prices pulled back slightly to 717,000-720,000 yuan/mt.

[SMM Recycled Rare Earth Weekly Review: Scrap Prices Remained Stable, Market Transactions Continued to Weaken] Overall, scrap market prices saw no significant adjustments this week. Scrap suppliers maintained a wait-and-see attitude toward shipments, resulting in limited circulation of compliant tax-included scrap and persistently weak actual transactions. In the short term, affected by the tug-of-war between upstream and downstream and the stalemate, Pr-Nd scrap prices may move sideways.