Pr-Nd in the Rare Earth Market Pulled Back Under Pressure, Medium-Heavy Rare Earth Operated Steadily [SMM Rare Earth Daily Review]

Published: Aug 28, 2026 14:17

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[SMM Rare Earth Daily Review: Pr-Nd in the Rare Earth Market Was Under Pressure and Pulled Back; Medium-Heavy Rare Earth Ran Steadily] Overall, approaching the weekend, trading activity in the rare earth market was sluggish. Prices of Pr-Nd products were in the doldrums, while prices of medium-heavy rare earth products ran steadily, and actual transactions were in a stalemate. In the short term, affected by continued caution on the demand side and fluctuations in futures, prices of Pr-Nd products may maintain a sideways pattern; with limited follow-up on inquiries, prices of medium-heavy rare earth products may continue to run steadily.

SMM News, August 28: Rare earth market prices stayed in the doldrums today. Specifically, in the oxide market, Pr-Nd oxide prices fell by 6,000 yuan/mt, dysprosium oxide prices were flat, terbium oxide prices were flat, gadolinium oxide prices were flat, holmium oxide prices were flat, and erbium oxide prices rose by 2,500 yuan/mt.

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

In markets outside China, praseodymium oxide FOB prices rose by $0.5/kg this week, neodymium oxide FOB prices were steady this week, terbium oxide FOB prices rose by $15/kg this week, dysprosium oxide FOB prices rose by $6/kg this week, Pr-Nd oxide (FOB China) prices rose by $2/kg this week, praseodymium metal FOB prices were steady this week, neodymium metal FOB prices were steady this week, terbium metal FOB prices rose by $22/kg this week, and Pr-Nd alloy (FOB China) prices rose by $1/kg this week.

At present, rare earth market prices were generally in the doldrums. Focusing on the Pr-Nd market, affected by the pullback in Pr-Nd oxide futures prices, spot cargo suppliers’ offers loosened somewhat, market trading sentiment was relatively sluggish, and Pr-Nd oxide prices edged down. As for Pr-Nd alloy, although Pr-Nd oxide prices pulled back, metal enterprises were constrained by losses, with weak willingness to sell at low prices. Offers were relatively firm overall, but downstream magnetic material enterprises remained cautious in procurement, with limited follow-up on inquiries, and trading in the metal market was stagnant.

In the medium-heavy rare earth market, prices of products such as dysprosium, terbium, gadolinium, and holmium were generally stable, with no significant adjustments seen. Inquiries and trading activity were relatively sluggish, with limited follow-up in actual transactions; erbium product prices rose slightly.

Overall, as the weekend approached, overall trading sentiment in the rare earth market was sluggish. Pr-Nd product prices were in the doldrums, medium-heavy rare earth product prices were stable, and actual transactions were stagnant. In the short term, affected by continued caution on the demand side and fluctuations in futures, Pr-Nd product prices may maintain a sideways pattern within a narrow range; with limited follow-up on inquiries, medium-heavy rare earth products may see prices remain stable.

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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