[SMM Rare Earth Morning Meeting Summary: Intense Back-and-forth Negotiations Between Upstream and Downstream, Prices Remain Stable for Now] Yesterday, the prices of rare earth oxides generally remained stable. Supported by costs, low-priced supplies were hard to find in the market, and intense back-and-forth negotiations took place between upstream and downstream. Most industry players remain pessimistic about the future prices of rare earths.

[SMM Analysis: Rare Earth Import and Export Data for March Released, Imports of Rare Earth Metal Ores Expected to Continue Declining] From January to April 2025, China's imports of unlisted rare earth oxides reached approximately 12,849 mt, a 30% YoY decline. Among them, imports of unlisted rare earth oxides in April amounted to around 6,536 mt, showing an approximate 4% YoY increase and a roughly 204% MoM increase.

[SMM Rare Earth Weekly Review: Rare Earth Market Remains Stable Amidst Weak Supply and Demand] The price fluctuation range of Pr-Nd oxide was relatively small this week. With suppliers reluctant to sell their raw material inventories, their quotations remained firm. Given the recent significant imports of ion-adsorption ore, the prices of medium-heavy rare earths declined notably during the week, and the procurement volume of dysprosium oxide and terbium oxide in the market also decreased significantly. Most industry participants are generally bearish on the rare earth market before the holiday.

[SMM Daily Rare Earth Review: Intense Back-and-forth Negotiations Between Upstream and Downstream, Rare Earth Prices Remain Stable for Now] Currently, the overall price of the rare earth market remains stable. However, due to the unimproved demand in the end-use market, the market atmosphere is sluggish, trading is weak, and the actual trading volume is limited.

[SMM Weekly Review of Recycled Rare Earths: Weak End-Use Demand Leads to a Slight Drop in Scrap Prices] At the beginning of this week, affected by weak end-use demand, the oxide market prices dropped slightly, which in turn led to a decline in scrap prices.

[SMM Rare Earth Morning Meeting Summary: Sluggish Market Transactions, Prices Decline Slightly] Yesterday, the rare earth oxide market remained sluggish, with separation enterprises maintaining firm quotations supported by costs. Downstream procurement enthusiasm was low, and most industry players adopted a wait-and-see attitude towards the future development of rare earths, with transactions being more cautious.

[SMM Rare Earth Daily Review: Rare Earth Prices Drop Slightly Amid Weak Demand] Currently, rare earth market prices are showing a divergent trend. Specifically, prices in the light rare earth market remain stable, while the medium-heavy rare earth market continues to drop slightly. In the light rare earth market, the reduction of low-priced supplies has led separation plants to intend to maintain stable prices. In the medium-heavy rare earth market, due to weak end-use demand, most magnetic material enterprises have adopted a strategy of inquiring about prices and purchasing on a need-by-need basis.

[SMM Rare Earth Morning Meeting Summary: Sluggish End-use Demand Leads to Slight Decline in Market Prices] Yesterday, prices of rare earth oxides continued to decline slightly. Factories were not very active in offering goods, while the purchasing atmosphere in the downstream sector remained sluggish. Some traders took the initiative to lower prices to sell their goods, leading to a downward shift in the center of the overall market transaction prices.