[SMM analysis] the price of praseodymium and neodymium is lower, the overall demand of the market is weak.

[SMM Analysis: China's Demand Recovery Slow and Rainy Season Not Over Yet, August Imports of Unlisted Rare Earth Oxides Pull Back Slightly MoM] According to the latest data released by the General Administration of Customs, in August 2026, China's imports of unlisted rare earth oxides were 4,070 mt, down 11% MoM from 4,591 mt in July, but up 21% YoY from 3,374 mt in the same period last year. Cumulatively, imports of unlisted rare earth oxides totaled 41,445 mt in January-August 2026, up 16% from the same period in 2025. Since the start of 2026, monthly imports of this product have fluctuated overall, with higher import volumes in March, April, and June, further rising to 4,591 mt in July, before pulling back slightly to 4,070 mt in August, though still significantly higher than the 3,374 mt in the same period last year.

[Prices consolidate in a stalemate, with sluggish trading dominated by rigid demand] Currently, although the supply of rare earth ion-adsorption ore in Southeast Asia has slightly recovered, oxide prices remain generally stable, and overall transaction prices for rare earth ore are in a stalemate.