【SMM Rare Earth Morning Meeting Summary: Rare Earth Prices Hold Up Well, Downstream Buyers Mainly Purchase on Dips】Yesterday, the prices of rare earth oxides generally held up well. Driven by news-related factors, suppliers significantly raised their quotes, while downstream buyers mainly purchased on dips, resulting in relatively low actual high-price transactions in the market.

[SMM China Rare Earth Market Daily Report on May 8] Today, driven by news factors, the rare earth market saw a significant increase in supplier quotes, with low-priced supplies rapidly tightening. While suppliers were actively quoting, the purchasing activity of downstream buyers did not show a significant improvement. On the one hand, the current order-taking situation of downstream buyers is not good, and the demand for raw materials is not satisfactory. On the other hand, with the arrival of the off-season for NdFeB demand, downstream buyers do not have high expectations for the future prices of rare earths and are unwilling to purchase at high prices. There is intense back-and-forth negotiations between upstream and downstream, and it is expected that rare earth prices will mainly fluctuate upward in the near future.

[SMM Rare Earth Weekly Review: Intensified Back-and-Forth Negotiations Between Upstream and Downstream, Stable Outlook Expected for Rare Earth Market] The price of Pr-Nd oxide rose significantly this week. Separation enterprises and scrap recycling enterprises stated that due to the tight supply of rare earth ore and scrap, the quotes for rare earth oxides have been raised overall. Meanwhile, the prices of dysprosium and terbium also began to rise this week. In addition to the tight raw material supply, the advancement of export license processing by leading domestic magnetic material enterprises is one of the main reasons for the upward trend in medium-heavy rare earth prices.

[SMM Rare Earth Daily Review: Suppliers Offer High Quotes, Actual Transactions in Rare Earth Market Sluggish] Currently, the overall price of the rare earth market has risen. Driven by news-related factors, suppliers continue to offer high quotes, and the supply of low-priced goods is rapidly tightening. However, from a demand perspective, the order-taking situation of downstream magnetic material enterprises remains poor. Given the difficulty for metal plants to sell goods at high prices, they also find it hard to accept high-priced oxides. The actual transaction situation in the market is very sluggish, with most inquiries focusing on low-priced goods and purchasing as needed.

【SMM Rare Earth Morning Meeting Summary: Rare Earth Prices Increase Slightly, Downstream Purchases Mainly Based on Demand】Quotations from metal plants have slightly increased along with oxides, and the supply of low-priced goods in the market has tightened. However, the order-taking situation of downstream magnetic material enterprises has not improved, with general market transaction conditions. Downstream purchases are mainly made as needed.

[SMM China Rare Earth Market Daily Report on May 7] Today, rare earth prices generally rose slightly. It is understood that there has been no significant improvement in the downstream demand market for rare earths. Buyers are cautious in inquiring about goods and mainly make just-in-time procurement. However, influenced by news factors, some suppliers' sentiment of waiting and seeing has further intensified, with a decrease in their enthusiasm for offering goods, leading to a tightening of low-priced rare earth supplies in the market.

【SMM Rare Earth Morning Meeting Summary: Rare Earth Quotations Stable, Market Transactions Sluggish】Quotations from metal plants have remained relatively stable. Although the enthusiasm for inquiries from downstream buyers is not high, given the relatively stable prices of oxides, the prices of metal products have also remained relatively firm. However, actual market transactions have been sluggish.

[SMM Analysis: Overseas Supply of Dysprosium and Terbium is Tight, Price Spread Between Domestic and Overseas Rare Earths Widens] On April 4, 2025, the Ministry of Commerce and the General Administration of Customs jointly issued an announcement to implement export controls on seven categories of medium-heavy rare earth-related items, including samarium, gadolinium, terbium, and dysprosium, covering various forms such as metals, alloys, and permanent magnet materials. As the dominant force in the global rare earth supply chain, China controls approximately 85% of the global smelting capacity. These controls directly led to an expansion of the supply gap for medium-heavy rare earths in overseas markets, with key varieties such as dysprosium and terbium being significantly affected.