Rare Earth Prices Continue to Hold Up Well, but Market Trading Activity Remains Stagnant [SMM Rare Earth Daily Review]

Published: Aug 27, 2026 14:33

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[SMM Rare Earth Daily Review: Rare Earth Prices Continue to Hold Up Well, but Market Trading Stays Stagnant] Overall, the rare earth market held up well supported by tightening supply of low-priced goods, but downstream follow-up was cautious, high-price transactions were difficult to advance, and actual trading was stagnant. In the short term, due to the persistent difficulty in sourcing low-priced supplies, prices for medium-heavy rare earth products may continue to hold up well; for Pr-Nd products, attention should be paid to the downstream demand situation, and prices may maintain narrow consolidation on a strong note.

SMM, August 27: Today, rare earth market prices held up well overall. Specifically, in the oxide market, Pr-Nd oxide price was raised by 1,000 yuan/mt, dysprosium oxide by 10,000 yuan/mt, terbium oxide by 50,000 yuan/mt, gadolinium oxide by 1,500 yuan/mt, holmium oxide by 2,500 yuan/mt, and erbium oxide by 5,000 yuan/mt.

In the metal market, Pr-Nd alloy price was raised by 1,000 yuan/mt, dysprosium-iron alloy by 5,000 yuan/mt, terbium metal by 25,000 yuan/mt, gadolinium-iron alloy by 2,500 yuan/mt, holmium-iron by 2,500 yuan/mt, and lanthanum-cerium metal (alloy grade) price remained unchanged.

In markets outside China, the FOB price of praseodymium oxide was raised by $0.5/kg this week, while neodymium oxide FOB price remained stable, terbium oxide FOB price was raised by $15/kg, dysprosium oxide FOB price by $6/kg, Pr-Nd oxide (FOB China) price by $2/kg, praseodymium metal FOB price remained stable, neodymium metal FOB price remained stable, terbium metal FOB price was raised by $22/kg, and Pr-Nd alloy (FOB China) price by $1/kg.

Currently, rare earth market prices hold up well overall. Focusing on the Pr-Nd market, recently Pr-Nd oxide futures prices fluctuated significantly, but spot suppliers' offers remained firm, with market quotes showing no obvious adjustments and limited overall changes. For Pr-Nd alloy, supported by oxide costs, metal enterprises' willingness to sell at low prices was weak, and quotes were slightly raised from yesterday. However, due to limited downstream acceptance of high prices, high-price transactions were difficult to follow through, Pr-Nd alloy remained loss-making, and market trading was at a stalemate.

In the medium-heavy rare earth market, prices of dysprosium, terbium, gadolinium, and holmium products were all raised, mainly driven by tight supply of low-priced oxides and increased inquiries and purchasing activities. Suppliers continued to raise offers, among them, terbium products saw relatively notable increases. Metal product prices rose in tandem boosted by oxides, with offers for dysprosium-iron alloy, terbium metal, gadolinium-iron, and holmium-iron all raised.

Overall, supported by tightening low-priced supply, rare earth prices held up well, but downstream follow-through was cautious, high-price deals progressed sluggishly, and actual transactions remained stagnant. In the short term, due to persistent scarcity of low-priced cargoes, medium-heavy rare earth product prices may continue to hold up well. For Pr-Nd products, attention should be paid to downstream demand follow-through, and prices may consolidate on a strong note within a narrow range.

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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