Rare Earth Market Sees Scarce Low-Priced Sources, Prices Hold Up Well Overall [SMM Rare Earth Daily Review]

SMM August 21 News: Rare earth market prices held up well overall today. Specifically, in the oxide market, Pr-Nd oxide prices were raised by 8,000 yuan/mt, dysprosium oxide prices were raised by 25,000 yuan/mt, terbium oxide prices were raised by 30,000 yuan/mt, gadolinium oxide prices remained flat, holmium oxide prices were raised by 2,500 yuan/mt, and erbium oxide prices remained flat.

In the metal market, Pr-Nd alloy prices were raised by 10,000 yuan/mt, dysprosium-iron alloy prices were raised by 10,000 yuan/mt, terbium metal prices were raised by 50,000 yuan/mt, gadolinium-iron alloy prices remained flat, holmium-iron alloy market prices were raised by 3,500 yuan/mt, and lanthanum-cerium metal (alloy grade) prices remained flat.

In markets outside China, Pr6O11 FOB prices were stable this week, Nd2O3 FOB prices were lowered by $10/kg this week, Tb4O7 FOB prices were lowered by $2/kg this week, Dy2O3 FOB prices were flat this week, Pr-Nd oxide (FOB China) prices were lowered by $2/kg this week, Pr metal FOB prices were flat this week, Nd metal FOB prices were flat this week, Tb metal FOB prices were lowered by $5/kg this week, and Pr-Nd metal (FOB China) prices were lowered by $1/kg this week.

Currently, rare earth market prices held up well overall. Focusing on the Pr-Nd market, yesterday large factories entered to purchase Pr-Nd oxide, tightening low-priced spot cargo in the market, which drove up Pr-Nd oxide futures prices. Suppliers of Pr-Nd oxide had weak willingness to sell at low prices, so prices continued to rise. Pr-Nd alloy, supported by oxide cost, followed the uptrend simultaneously. However, today the activity of market inquiries has slightly declined, and downstream magnetic material enterprises are relatively cautious in procurement, with limited actual transaction follow-through.

For medium-heavy rare earth market, dysprosium products saw significant price increases driven by large factory procurement; terbium, holmium, and other products followed the uptrend simultaneously, with low-priced spot cargo hard to find in the market and suppliers quoting firmly; gadolinium, erbium, and other products prices overall held steady with no significant fluctuations.

Overall, the rare earth market, driven by large factory procurement and tightening of low-priced spot cargo, held up well overall. However, downstream inquiry activity has declined compared to yesterday, and actual transaction follow-through on the metal side is limited. It is expected that in the short term, driven by the recovery of market trading activity, prices of Pr-Nd and dysprosium products may maintain a drifting higher pattern.