SMM, October 14: Rare earth market prices moved sideways overall today. Specifically, in the oxide market, Pr-Nd oxide prices were flat, gadolinium oxide prices were flat, dysprosium oxide prices fell by 10,000 yuan/mt, terbium oxide prices were flat, holmium oxide prices were flat, and erbium oxide prices rose by 5,000 yuan/mt.
In the metals market, Pr-Nd alloy prices were flat, gadolinium-iron alloy prices were flat, dysprosium-iron alloy prices were flat, terbium metal prices fell by 25,000 yuan/mt, holmium-iron prices rose by 5,000 yuan/mt, and lanthanum-cerium metal prices were flat.
In markets outside China, among FOB prices, terbium oxide prices fell by $20/kg, terbium metal prices fell by $30/kg, dysprosium oxide prices fell by $3/kg, Pr-Nd oxide prices rose by $1/kg, and praseodymium oxide, neodymium oxide, praseodymium metal, neodymium metal, and Pr-Nd alloy prices were flat; among CIF prices, Pr-Nd oxide, Pr-Nd alloy, and neodymium oxide have not been updated this week, with the latest quotes still at last week's (October 7) levels.
Currently, overall price changes in the rare earth market remain limited, with the Pr-Nd series stabilizing after two consecutive days of gains. Focusing on the Pr-Nd market, the quotation range for Pr-Nd oxide remained in line with the previous period, suppliers maintained steady quoting sentiment, and low-priced cargoes remained hard to find; Pr-Nd alloy quotes also held steady, with no new changes on either the cost or selling price side, leaving the metal segment without momentum for adjustment, and the price spread between metal and oxide continued at prior levels. On the transaction front, inquiry activity in the market today was lower than yesterday, downstream procurement maintained a just-in-time pace, actual order follow-through was more sluggish, and trading sentiment was subdued.
In the medium-heavy rare earth market, the pressure to lower prices shifted between the raw material side and the metal side: terbium-series oxides stopped falling and stabilized, while terbium metal quotes were subsequently lowered by metal producers as high-priced transactions remained blocked, with the decline narrowing from the previous trading day; the dysprosium series shifted to weakness on the raw material side, with dysprosium oxide edging down while dysprosium-iron alloy quotes held steady for now; the gadolinium series remained stable, with no changes in either oxides or metals; the holmium series diverged, with holmium-iron edging up while holmium oxide held steady; erbium products extended their rise, with the quotation center moving higher.
Overall, changes in the rare earth market were limited today, with the Pr-Nd chain stabilizing in tandem after two consecutive days of gains and the price spread unchanged; in medium-heavy rare earths, the side bearing price concessions alternated between oxides and metals—terbium-series oxides stopped falling while the metal side remained weak, the dysprosium series shifted from the metal side to the oxide side, and holmium-iron and erbium products edged up, with no unified direction across varieties. On the transaction front, market inquiry activity declined from the previous trading day, downstream procurement was limited to just-in-time needs, actual deal closures became more sluggish, and current price changes were driven more by proactive adjustments on the quoting side.
In the short term, the Pr-Nd series lacks incremental transaction momentum and inquiry activity has pulled back, so it may continue to consolidate sideways in the near term; whether it can resume an upward trend depends on the pace of downstream order releases. In medium-heavy rare earths, the continued weakness in terbium-series metals warrants attention as to whether it will transmit further to the oxide side, the dysprosium series may face some pressure after raw material loosening, and varieties such as holmium and erbium are likely to remain in narrow fluctuations.
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