Rare earth prices may continue to show a weak trend in the short term

This week, the rare earth market showed an overall weak trend. With ample upstream supply and still weak downstream demand, the growth in magnet material market orders did not meet expectations, leading to low production enthusiasm among enterprises and a decrease in market transaction activity. Additionally, industry insiders forecast that by the end of December, mineral supplies from Myanmar might resume circulation, potentially leading to a large influx of raw materials into the domestic market. Therefore, SMM expects that rare earth prices may continue to show a weak trend in the short term.