Pr-Nd in the rare earth market recovers and rises, prices overall hold up well [SMM rare earth daily review]

Published: Aug 26, 2026 14:09

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[SMM Rare Earth Daily Review: Rare Earth Market Pr-Nd Recovers and Rises, Prices Hold Up Well Overall] Overall, the rare earth market is driven by the rise in futures and the tightening of low-priced sources, with prices holding up well. However, downstream inquiries are limited, and actual transactions remain stagnant. In the near term, supported by the continued tightening of low-priced sources, prices of Pr-Nd, dysprosium, holmium, and other products are expected to consolidate on a strong note.

SMM August 26 News: Rare earth market prices held up well overall today. Specifically, in the oxide market, Pr-Nd oxide prices were raised by 6,500 yuan/mt, dysprosium oxide prices were raised by 15,000 yuan/mt, terbium oxide prices remained flat, gadolinium oxide prices were raised by 1,000 yuan/mt, holmium oxide prices were raised by 7,500 yuan/mt, and erbium oxide prices remained flat.

In the metal market, Pr-Nd alloy prices were raised by 6,000 yuan/mt, dysprosium-iron alloy prices were raised by 10,000 yuan/mt, terbiun metal prices remained flat, gadolinium-iron alloy prices were raised by 1,000 yuan/mt, holmium-iron prices were raised by 7,500 yuan/mt, and lanthanum-cerium metal (alloy grade) prices remained flat.

Currently, rare earth market prices held up well overall. Focusing on the Pr-Nd market, driven by a significant rise in Pr-Nd oxide futures prices, spot suppliers raised their quotes successively, further tightening low-price availability and pushing Pr-Nd oxide prices up overall. However, metal segment transactions continued to be under pressure, with metal enterprises adopting a wait-and-see approach to inquiries and purchases, resulting in poor follow-through on Pr-Nd oxide transactions. Although Pr-Nd alloy prices tracked the upward trend driven by oxide costs, downstream magnetic material enterprises showed weak purchase willingness, making high-price transactions difficult to materialize, limiting actual gains. Pr-Nd alloy remained in a loss-making state, with market trading in a stalemate.

In the medium-heavy rare earth market, dysprosium and holmium product prices continued to rise, mainly due to scarce low-price oxide supply and increased inquiry and purchase activity, prompting suppliers to keep raising quotes. Gadolinium products saw small price increases from suppliers, following the upward trend in Pr-Nd prices. Terbium and erbium product prices remained stable. Overall, the rare earth market was supported by rising futures prices and tightening low-price supply, leading to an overall firm market, but downstream inquiry follow-through was limited, resulting in stagnant actual transactions. In the near term, driven by sustained tightening of low-price supply, Pr-Nd and dysprosium, holmium, and other product prices may consolidate on a strong note.

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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