On September 19, Pr-Nd prices slightly increased, with overall price fluctuations in the rare earth market remaining minimal. According to SMM, the mainstream transaction prices for Pr-Nd oxide were slightly adjusted to 415,000-417,000 yuan/mt. The price of dysprosium oxide slightly increased to 1.75-1.77 million yuan/mt, while the price of terbium oxide was also adjusted to around 5.76 million yuan/mt. The price of gadolinium oxide remained stable at 177,000-180,000 yuan/mt, and the price of holmium oxide continued to stabilize at 520,000-525,000 yuan/mt.
The mainstream transaction prices for Pr-Nd alloy were also adjusted to 516,000-520,000 yuan/mt yesterday, following the oxides. According to an SMM survey, due to weak support from downstream orders, some magnetic material companies adopted a wait-and-see attitude towards the market outlook and did not actively stock up before the National Day holiday. Some magnetic material companies will maintain raw material inventories for 1-2 months and restock as needed based on market order changes. With the arrival of the fourth quarter, end-users are expected to push for year-end sales, and it is anticipated that the order volume for magnetic material companies may slightly increase after the National Day holiday, potentially leading to a procurement boom in the rare earth market in October.
![Rare earth prices show divergence; Pr-Nd is weaker while medium-heavy rare earth holds steady [SMM Rare Earth Daily Review]](https://imgqn.smm.cn/usercenter/vpWKL20251217171743.jpeg)
![[SMM Rare Earth Morning Meeting Minutes] Pr-Nd series quotations remain firm with weak transactions, medium-heavy rare earth prices stay stable, and magnetic materials see a slight recovery.](https://imgqn.smm.cn/usercenter/rqOXm20251217171744.jpeg)
