October 23 SMM rare earth spot price: multi-item further decline gadolinium oxide down 5000 yuan / ton

[Rising magnesium ingot production costs push up prices, sluggish demand constrains rebound] Fugu magnesium ingot offers in both domestic and overseas markets rose along with higher costs, but end-use demand in China and outside China failed to follow through, limiting upward momentum. In the short term, magnesium ingot prices are expected to continue moving sideways within a range, with attention on downstream restocking and production cuts by producers.

[SMM Titanium Spot Express: High Inventory and Low Demand Weigh on Market, Titanium Dioxide Prices Remain Weak in Stalemate] On September 1, the SMM titanium dioxide index stood at 14,080 yuan/mt, with quotations for all titanium dioxide grades unchanged. Industry operating rates remained stable, but inventory divergence was evident. Downstream procurement was weak, while costs provided bottom support. In the short term, the market is expected to continue its weak, stagnant pattern.

According to SMM’s assessment, the output of first‑grade sodium antimonate in China in August 2026 will register a substantial month‑on‑month increase of approximately 58%. The notable rise in August output has led many market participants to speculate whether the market has entered the traditional peak‑demand season of "Golden September and Silver October", and that stocking demand for sodium antimonate from the photovoltaic glass sector is likely to pick up gradually.