MP Materials Ceases Exporting Rare Earth Concentrate to China, Pr-Nd Prices Begin to Stabilize [SMM Analysis]

Published: Apr 18, 2025 18:52

Save

SMM Analysis: MP Materials Halts Rare Earth Concentrate Exports to China, Pr-Nd Prices Begin to Stabilize. The rare earth market was generally in the doldrums this week, with Pr-Nd prices declining at a relatively faster pace. The price of Pr-Nd oxide fell by nearly 3% during the week. However, due to more active acquisitions of dysprosium and terbium products by top-tier enterprises, the pullback in medium-heavy rare earths was relatively slower.

SMM April 18 News: The rare earth market was in the doldrums this week, with Pr-Nd prices falling relatively faster. The price of Pr-Nd oxide dropped by nearly 3% during the week. However, due to more active acquisitions of dysprosium and terbium products by top-tier enterprises, the pullback of medium-heavy rare earths was relatively slower. It is reported that MP Materials has stopped exporting rare earth concentrate to China. According to customs data, China's rare earth metal ore imports in January and February 2025 were 7,780.5 mt and 2,886 mt, up 40% YoY. February imports decreased 63% MoM and 18% YoY. On April 11, China announced an increase in import tariffs on all US goods to 125%. US congressmen pointed out that selling critical materials at a 125% tariff is neither reasonable nor in the national interest of the US. Following this news, rare earth market quotations gradually firmed, and low-grade Pr-Nd oxide supplies began to tighten. However, some industry players remain pessimistic about the future, believing that weak downstream demand persists and is difficult to resolve in the short term, making it unlikely for Pr-Nd product prices to rise significantly. Overall, although mine-side product supply has decreased, downstream demand has also been reduced due to export restrictions, leading to fewer orders for magnetic material enterprises. Therefore, Pr-Nd products currently face a situation of weak supply and demand. SMM expects Pr-Nd prices to fluctuate rangebound in the near future, with no significant changes. Apply for a free trial of the SMM Metal Industry Chain Database.

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

16 hours ago

Pr-Nd Oxide and Alloy Prices Surge Amid Multiple Factors

[SMM Rare Earth Flash] Affected by multiple factors, Pr-Nd oxide prices and Pr-Nd alloy prices surged sharply today. Pr-Nd oxide closed at 750,000-755,000 yuan, up 27,500 yuan/mt from the previous day, while Pr-Nd alloy closed at 900,000-920,000 yuan/mt, up 22,500 yuan/mt from the previous day. As of now, SMM had not learned of any transactions concluded at these prices and would continue to follow up on frontline market conditions.

16 hours ago

Apr 2, 2026 18:08

Rare Earth Prices Surge: Neodymium Praseodymium Oxide and Gadolinium Iron See Increased Transactions

[SMM Rare Earth Price Flash] As of now, driven by the rise in futures prices, neodymium praseodymium oxide has seen small-volume transactions by some traders at 730,000-740,000 yuan/mt. Driven by rising raw material prices, coupled with tender procurement of Pr-Nd alloy by major magnetic material plants, metal quotations were also raised to 900,000 yuan/mt, with actual transactions following up. The latest market quotation for gadolinium oxide was 230,000 yuan/mt, and quotations for gadolinium iron were also raised to 215,000-220,000 yuan/mt, driven by downstream tender procurement.

Apr 2, 2026 18:08

Apr 2, 2026 16:11

Rare Earth Prices Hold Up Well, and Market Inquiry Activity Increases [SMM Rare Earth Weekly Review]

[SMM Rare Earth Weekly Review: Rare Earth Prices Hold Up Well, and Market Inquiry Activity Increases] The Pr-Nd oxide market as a whole continued to hold up well. Under the impact of expectations of tighter supply and pronounced fluctuations in futures prices, upstream suppliers kept raising their offers, while low-priced cargoes tightened rapidly, pushing Pr-Nd oxide prices up to 722,000-728,000 yuan/mt.

Apr 2, 2026 16:11