SMM, September 16: Rare earth market prices were generally in the doldrums today. Specifically, in the oxide market, Pr-Nd oxide prices fell by 2,000 yuan/mt, dysprosium oxide prices were flat, terbium oxide prices fell by 50,000 yuan/mt, gadolinium oxide prices fell by 1,500 yuan/mt, holmium oxide prices fell by 2,500 yuan/mt, and erbium oxide prices were flat.
In the metal market, Pr-Nd alloy prices fell by 1,500 yuan/mt, dysprosium-iron alloy prices were flat, terbium metal prices fell by 70,000 yuan/mt, gadolinium-iron alloy prices fell by 2,500 yuan/mt, holmium-iron prices fell by 2,500 yuan/mt, and lanthanum-cerium metal (alloy grade) prices were flat.
In markets outside China, FOB prices for Pr-Nd oxide and medium-heavy rare earth products were generally in the doldrums this week: terbium oxide FOB and terbium metal FOB prices each fell by $12/kg, while praseodymium oxide FOB, neodymium oxide FOB, dysprosium oxide FOB, Pr-Nd oxide (FOB China), Pr-Nd alloy (FOB China), praseodymium metal FOB, and neodymium metal FOB prices held steady.
Currently, rare earth market prices are generally in the doldrums. Focusing on the Pr-Nd market, the Pr-Nd price center moved down slightly, with oxides and metals declining in tandem: on the raw material side, Pr-Nd oxide already showed signs of softening yesterday afternoon, and offers continued to edge lower today. With cost support weakening, metal producers followed suit in lowering their offer prices. On the demand side, magnetic material enterprises remained cautious in their inquiries and purchases, with actual negotiations centered on low-priced cargoes. Acceptance of high-priced cargoes remained limited, follow-through buying was insufficient, and the market was dominated by a wait-and-see sentiment.
In the medium-heavy rare earth market, the terbium segment posted the steepest declines, with terbium oxide and terbium metal both falling sharply, mainly because high-priced transactions had been blocked for an extended period and suppliers increased discounted selling. The dysprosium segment held steady, with dysprosium oxide and dysprosium-iron alloy offers both flat. The gadolinium segment weakened slightly, with gadolinium oxide and gadolinium-iron both edging down. The holmium segment pulled back slightly, with holmium oxide and holmium-iron moving lower in tandem. Erbium products continued to hold steady.
Overall, the market shifted from consolidation yesterday to a weaker tone today, with declines concentrated in the terbium and Pr-Nd segments. Transactions remained sluggish, with downstream buying limited to small rigid-demand orders and actual negotiations centered on low-priced cargoes, while inquiries for other products were steady. In the near term, with the Mid-Autumn Festival holiday approaching, some pre-holiday stockpiling expectations remain, but with both the cost side and transaction side weakening, Pr-Nd prices are likely to consolidate in a narrow range. Whether the uptrend can gain follow-through still depends on the pace of stockpiling demand release from magnetic material enterprises.
![[SMM Rare Earth Morning Meeting Summary] Pr-Nd oxide consolidated on a subdued note in the afternoon with more seller concessions, dysprosium remained stable while terbium held steady at low levels, and magnetic material activity was moderate.](https://imgqn.smm.cn/usercenter/tXtym20251217171745.jpeg)
![Pr-Nd Consolidates in Rare Earth Market, Prices Remain Stable Overall [SMM Rare Earth Daily Review]](https://imgqn.smm.cn/usercenter/ecUwF20251217171745.jpg)
