SMM China Rare Earth Market Daily Report on May 8

[SMM China Rare Earth Market Daily Report on May 8] Today, driven by news factors, the rare earth market saw a significant increase in supplier quotes, with low-priced supplies rapidly tightening. While suppliers were actively quoting, the purchasing activity of downstream buyers did not show a significant improvement. On the one hand, the current order-taking situation of downstream buyers is not good, and the demand for raw materials is not satisfactory. On the other hand, with the arrival of the off-season for NdFeB demand, downstream buyers do not have high expectations for the future prices of rare earths and are unwilling to purchase at high prices. There is intense back-and-forth negotiations between upstream and downstream, and it is expected that rare earth prices will mainly fluctuate upward in the near future.