[SMM Rare Earth Weekly Review: Pr-Nd Prices Continue to Rise, Medium-Heavy Rare Earths Stop Falling and Recover] This week, the price of Pr-Nd alloy rose initially before dropping back slightly. As of now, Pr-Nd alloy has stabilized at 730,000-740,000 yuan/mt. At the beginning of the week, influenced by the rapid increase in oxide prices, the cost-supported price of Pr-Nd alloy experienced a slight raise. However, due to the approaching holiday, downstream magnetic material enterprises showed weak purchase willingness, and market transactions remained stagnant, leading to a slight pullback after the initial price surge. Nevertheless, raw material costs remained high, limiting the actual decline in the alloy price.

This week, overseas markets generally entered the Christmas holiday period, with prices stabilizing for the time being. Market trading activity remained subdued, and the development process in the ore sector slowed down, awaiting a post-holiday recovery.

Recently, NdFeB raw material prices for Pr-Nd oxide and Pr-Nd alloy experienced a rapid surge before entering a phase of fluctuation at highs. As of December 25, Pr-Nd oxide settled at 593,500 yuan/mt, up 19,500 yuan WoW; Pr-Nd alloy settled at 720,000 yuan/mt, up 22,500 yuan WoW. Despite the significant short-term increase in raw material prices, NdFeB product prices did not follow suit, with some magnetic material enterprises instead reducing prices for sales.

[SMM Rare Earth Weekly Review: Pr-Nd Prices Rose Significantly, Medium-Heavy Rare Earth Ran in the Doldrums] This week, NdFeB prices rose slightly, primarily driven by the rapid increase in the price of Pr-Nd oxide, the raw material for NdFeB, which pushed up magnetic material prices slightly. In terms of trading, market activity was moderate this week. On one hand, persistently high raw material prices led to a strong wait-and-see sentiment among end-users. On the other hand, due to previous panic stockpiling by end-users, magnetic material inventory remains relatively high. As the year-end approaches, rigid stockpiling demand has weakened, resulting in generally moderate market trading activity.

Kazakhstan, Kyrgyzstan, and Mongolia, with their abundant reserves of rare earth resources, are emerging as key players in the diversification of the global rare earth supply chain. In this article, we will examine the development of the rare earth industry in these three countries.

Recently, US magnet manufacturer eVAC shipped the first batch of NdFeB permanent magnets from its Sumter plant in South Carolina, marking a critical step in the localization of rare earth permanent magnet production in the US. This delivery is considered the first commercial production of rare earth magnets in the country. At the same time, positive news emerged from domestic resource exploration in the US—Ion Mineral Technology discovered an ion-adsorption rare earth ore deposit at its Silicon Ridge project in Utah. This deposit is not only rich in rare earths but also contains 16 critical metals, including gallium, germanium, and rubidium. This discovery could become one of the largest critical mineral deposits in North America.

This Week, the US Pioneered a Breakthrough in Rare Earth Magnets, While South Korea, as a Processing Hub, Vigorously Developed the Rare Earth Industry for Europe and the US.