The global competition for critical minerals has reached unprecedented levels in 2025, with major powers implementing aggressive strategies to secure supply chains essential for clean energy technologies, defense systems, and advanced electronics.

SMM's Latest Market Update (July 30): Mainstream transaction prices for Pr-Nd oxide: 531,500 yuan/mt (up 11,000 yuan from the previous day), mainstream transaction prices for Pr-Nd alloy: 645,000 yuan/mt (up 20,000 yuan from the previous day). In addition to Pr-Nd oxide and alloy, single Pr oxide, single Nd oxide, Pr metal, and Nd metal all showed significant increases exceeding 10,000 yuan/mt.

SMM's Latest Market Update (July 30): Mainstream transaction prices for Pr-Nd oxide: 531,500 yuan/mt (up 11,000 yuan from the previous day), mainstream transaction prices for Pr-Nd alloy: 645,000 yuan/mt (up 20,000 yuan from the previous day). In addition to Pr-Nd oxide and alloy, single Pr oxide, single Nd oxide, Pr metal, and Nd metal all showed significant increases exceeding 10,000 yuan/mt.

[SMM Rare Earth Weekly Review: Market Bullish Expectations Persist, Rare Earth Prices Fluctuate Upward] This week, the price of Pr-Nd oxide continued to rise rapidly. According to market feedback, the current supply of Pr-Nd oxide is tightening, and market bullish sentiment is high. With suppliers offering firm quotes, it is difficult to find low-priced goods in the market. Meanwhile, downstream orders have also increased, and the demand for rare earths has grown to a certain extent compared to before. With the aggravation of the supply-demand mismatch, the price of Pr-Nd also continued to hold up well.

In July, the price of Pr-Nd alloy continued to rise, climbing from an average price of 545,000 yuan/mt on July 3 to 635,000 yuan/mt on July 28, representing a monthly increase of over 16% and marking the highest annual increase since 2011.

In July, the price trend of Pr-Nd alloy continued to rise, increasing from an average price of 545,000 on July 3rd to 635,000 on July 28th, with a monthly increase exceeding 16%, marking the highest year-on-year increase since 2011.

SMM reported that the rare earth oxide market continued its upward trend on July 23. Mainstream quotations for Pr-Nd oxide ranged from 495,000 to 497,000 yuan/mt, with an average price of 496,000 yuan/mt, up 17,000 yuan/mt MoM. Quotations for Pr oxide ranged from 513,000 to 518,000 yuan/mt, with an average price of 515,500 yuan/mt, up 28,000 yuan/mt MoM. Quotations for Nd oxide ranged from 498,000 to 500,000 yuan/mt, with an average price of 499,000 yuan/mt, up 15,000 yuan/mt MoM. Notably, as of the time of reporting, the spot cargo transaction price for some Pr-Nd oxide separation plants had reached 502,000 yuan/mt, which translates to a metal cost of approximately 620,000 yuan/mt

[SMM Rare Earth Weekly Review: Rare Earth Prices Continue to Rise with Strong Market Bullish Sentiment] This week, the price of Pr-Nd oxide saw a significant increase. It is understood that due to the impact of Kachin's relevant announcements on rare earth ore mining and the news that rare earth metal ore imports reached zero in June, most industry players expect a tightening of subsequent market supply. At the same time, there has been a noticeable increase in demand from downstream metal end-users, driving up the prices of Pr-Nd products across the board.