Affected by tariff issues, the market sentiment of wait-and-see is strong [SMM Rare Earth Daily Review]

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SMM May 12 News: Today, the rare earth market prices showed an overall stabilization trend. Specifically, in the oxide market, Pr-Nd oxide prices remained stable at 422,000 to 424,000 yuan per mt, dysprosium oxide prices were stable at 1.64 to 1.65 million yuan per mt, terbium oxide prices decreased to 7.03 to 7.07 million yuan per mt, gadolinium oxide prices were stable at 166,000 to 168,000 yuan per mt; holmium oxide prices remained at 513,000 to 517,000 yuan per mt, erbium oxide prices continued to fluctuate between 300,000 to 305,000 yuan per mt.

In the metal market, Pr-Nd alloy prices slightly increased to 517,000 to 520,000 yuan per mt today, dysprosium-iron alloy prices were stable at 2.03 to 2.05 million yuan per mt, terbium metal prices decreased to 8.72 to 8.75 million yuan per mt, gadolinium-iron alloy prices remained at 162,000 to 164,000 yuan per mt, holmium-iron market prices adjusted with oxides to 520,000 to 525,000 yuan per mt, lanthanum-cerium alloy prices continued to be stable at 17,000 to 19,000 yuan per mt.

Currently, the rare earth market prices are generally stabilizing. Although tariff-related news has driven prices, demand remains sluggish. Downstream magnetic material enterprises, constrained by export controls and the industry off-season, still face unsatisfactory order-taking situations, with low acceptance of high-priced metals, generally adopting strategies of consuming inventory and purchasing as needed. The actual market transactions are sluggish. Overall, rare earth prices are stabilizing, with a strong market sentiment of wait-and-see. It is still necessary to observe the impact of subsequent tariff trade on export controls, and prices are expected to be difficult to continue to rise significantly.