Northern rare earths: prices of light rare earth products announced in December are all the same as last month

[SMM Rare Earth Weekly Review: Rare earth prices overall in the doldrums, with divergent trends across products and stagnant trading] Pr-Nd oxide prices were reported at 730,000-732,000 yuan/mt, falling first and then stabilizing during the week. From the beginning of the week to Wednesday, prices pulled back continuously along with the futures market, and low-priced offers increased at one point. On Thursday, the futures market stopped falling and recovered, and suppliers tentatively raised their quotations. Low-priced sources were somewhat reduced compared with the earlier period, but downstream willingness to chase higher prices remained limited, and actual transaction volumes continued to be constrained. Demand-side order growth was not obvious, and raw material purchases were mainly based on buying on dips.

[SMM Rare Earth Daily Review: Pr-Nd in the rare earth market stops falling and rebounds; downstream buying interest remains limited, with few transactions] Overall, the rare earth market currently lacks a clear unilateral driver, with bullish and bearish factors intertwined across varieties, and prices and transactions continuing the previous divergence trend. Although Pr-Nd series saw a slight upward probe, downstream willingness to chase higher prices remains limited, with actual negotiations mostly centered on low-priced cargoes and no significant expansion in overall transaction volume. On the medium-heavy rare earth side, dysprosium series still faces shipment pressure with lukewarm inquiries, while terbium series prices remain stable for now, with buyers and sellers turning to a wait-and-see stance. In the short term, whether Pr-Nd prices can continue to move higher still depends on the actual implementation of downstream orders, and prices may remain in a narrow consolidation range.