[SMM Rare Earth Weekly Review: Market Boosted by Positive News, Rare Earth Prices Significantly Increased] Pr-Nd oxide prices rose rapidly this week. As of today, Pr-Nd oxide prices had increased to 538,000-545,000 yuan/mt. Influenced by news factors, market sentiment reversed quickly, suppliers' offers also rose substantially, and low-priced supplies in the market tightened.

On October 26, 2025, the China-US economic and trade talks concluded in Kuala Lumpur, with the US pledging to suspend the planned 100% tariff hike on Chinese goods. In response, China decided to postpone its rare earth export control measures by one year. The news directly boosted market confidence. On October 27, the price of Pr-Nd oxide, a benchmark in the rare earth market, rose by approximately 9,000 yuan/mt in a single day, with spot quotations approaching the 510,000 yuan/mt mark. Subsequently, on October 30, Chinese leaders departed for Busan, South Korea, to attend the APEC meeting and are scheduled to hold talks with US President Donald Trump, where the two sides are expected to further discuss issues such as semiconductor and rare earth trade. According to an SMM survey, recent inquiries for NdFeB permanent magnets and Pr-Nd alloy, both at home and abroad, have shown a significant increase, and purchase willingness among end-users has also improved compared to the previous period.

On October 24, the ASEAN meeting held in Kuala Lumpur once again discussed regional cooperation on rare earth elements. Earlier, Malaysia announced strengthened cooperation with China in the rare earth industry and welcomed the establishment of joint ventures. As a key region for rare earth reserves in Asia, how will Malaysia's rare earth industry develop in the future, and what practical challenges does it face? In this article, let's explore these questions together.

After China strengthened its export control policies in early October, countries have continued to enhance the autonomy of their rare earth industry chains. This week, the overseas rare earth market saw frequent activity, with the US-Australia key minerals cooperation being the most prominent. In addition to the US and Australia, Brazil and Malaysia have also begun advancing their own rare earth industry chain autonomy processes.

[SMM Rare Earth Weekly Review: Market Inquiries Sluggish, Rare Earth Prices in the Doldrums] Pr-Nd oxide prices remained in the doldrums recently. As of today, the price of Pr-Nd oxide has fallen to 505,000-507,000 yuan/mt, due to persistently weak downstream demand, low activity in market inquiries and procurement, suppliers' lack of confidence in the future market leading to lower offers, and the actual transaction price of Pr-Nd oxide continuously declining.

According to SMM data, China's exports of NdFeB permanent magnets totaled 5,775 mt in September, down 6.5% MoM but still up 13% YoY. From January to September 2025, cumulative exports of NdFeB permanent magnets reached 40,219 mt, a decrease of 6.5% compared to the same period last year. Based on the SMM survey, full-year exports of NdFeB magnetic materials in 2025 are expected to decline by approximately 10% YoY, with average monthly exports in Q4 projected to remain around 4,100 mt, down about 12% compared to the same period last year.

Last week, new developments occurred in the overseas rare earth sector, with Vietnam further strengthening state control over rare earths and enhancing the management of strategic resources, while the United States and the United Kingdom readjusted their rare earth strategies and established rare earth supply chains.

[SMM Rare Earth Weekly Review: Rare Earth Prices Continue to Decline Amid Sluggish Market Trading] The price of Pr-Nd oxide has recently taken a sharp downturn. Following the holiday, factors influencing the rare earth market have significantly strengthened their impact on prices. Many suppliers have reduced their confidence in future rare earth prices, leading them to proactively lower prices to sell. As of now, the price of Pr-Nd oxide has dropped to 513,000-520,000 yuan/mt.