SMM Rare Earth Morning Meeting Summary: Rare Earth Metal Prices Decline, Market Activity Remains Low. On the metal side, Pr-Nd alloy prices continued to fall rapidly, but the purchase willingness of magnetic material enterprises remained low. Poor order-taking in downstream sectors kept the market inquiry activity for metals persistently low, with some suppliers actively selling at lower prices.

【April 24 SMM China Rare Earth Market Daily】Today, the price of Pr-Nd continued to decline. With weak downstream demand, suppliers' confidence in the future market further waned, leading to an increase in active low-price sales. Downstream inquiries remained sluggish. However, considering the rapid changes in policy, the market direction remains unclear, and some suppliers still hold certain expectations for the future price of rare earths.

SMM Rare Earth Daily Review: End-Use Demand Weakens, Rare Earth Market Prices Continue to Decline. Today, rare earth market prices showed a slight downward trend. Specifically, in the oxide market, Pr-Nd oxide prices decreased to 408,000-410,000 yuan per mt, dysprosium oxide prices decreased to 1.6-1.62 million yuan per mt, and terbium oxide prices increased to 6.74-6.8 million yuan per mt.

【SMM Rare Earth Weekly Review: Downstream Procurement Demand for Rare Earths Declined Due to End-Use Demand Impact】Currently, the price of lanthanum oxide remained stable at 4,200-4,600 yuan/mt, while the price of cerium oxide continued to stabilize at 11,600-13,000 yuan/mt this week. This week, the market prices of lanthanum and cerium stabilized again after experiencing a correction last week, with no significant fluctuations in the recent market situation. The price of Pr-Nd oxide continued to decline rapidly this week, and with the persistently poor release of downstream orders, the confidence of most industry players in the future market also weakened.

SMM Rare Earth Morning Meeting Summary: Rare Earth Metal Transaction Prices Decline Amid Sluggish Market Demand. In the metal sector, downstream demand remained sluggish. Some suppliers, with persistently weak confidence in the future market, continuously lowered their quoted prices. Buyers exerted strong pressure to drive down prices, and the actual transaction prices in the market continued to decline.

In March 2025, China's imports of rare earth permanent magnets totaled 270.578 mt, with imports from the top 10 trading partners amounting to 269.255 mt. Exports of rare earth permanent magnets from China in March totaled 5,324.63 mt, with exports to the top 10 trading partners reaching 4,076.955 mt.

April 23 SMM China Rare Earth Market Daily: Today, rare earth prices continued to experience a slight decline. Supply side, upstream producers maintained firm quotations, and the availability of low-priced sources from traders decreased, leading to a noticeable slowdown in the decline of actual transaction prices. Demand side, downstream purchasers primarily engaged in purchasing as needed, with significant pressure to drive down prices during inquiries. The intensity of back-and-forth negotiations between upstream and downstream increased. It is expected that rare earth prices will remain slightly in the doldrums in the near term.