This week, rare earth prices generally remained weak. According to an SMM survey, upstream sellers held prices firm and were reluctant to sell due to cost pressures, and there was a slight increase in inquiries for rare earth oxides. However, downstream magnetic material companies reported poor orders in June. They lacked confidence in the outlook and were more cautious about purchases.

As upstream and downstream are in a stalemate, rare earth prices are expected to fluctuate narrowly in the short term.