[SMM Rare Earth Morning Meeting Summary: Macro News Influences Market, Bullish Sentiment Resurfaces] Quotations in the metal market have further increased due to market activity. Some industry participants have raised their expectations for the future prices of rare earths, and the activity of market inquiries has also increased accordingly. Trading volume of metal products has also seen an uptick.

[SMM Rare Earth Daily Review: Market Sentiment of Wait-and-See Dominates Amid Tariff Concerns] Currently, the overall price of the rare earth market is stabilizing. Despite the price boost from tariff-related news, demand remains sluggish. Affected by export controls and the off-season in the industry, downstream magnetic material enterprises continue to face unfavorable order-taking situations. They have low acceptance of high-priced metals and generally adopt strategies of depleting inventory and purchasing as needed. The actual transaction situation in the market is sluggish.

[SMM Rare Earth Morning Meeting Summary: Rare Earth Quotations Rise, Wait-and-See Sentiment Prevails] Trading activity in the metal market is generally moderate. Downstream magnetic material enterprises show weak purchase willingness at high prices, mostly adopting a wait-and-see attitude and buying on dips. Suppliers mostly quote prices corresponding to oxides, but from the demand perspective, it is expected that metal prices may encounter resistance in rising.

[SMM Analysis: MP Achieves Record High Rare Earth Production in Q1, Faces Challenges in Strategic Transformation] In Q1 2025, MP Materials achieved a significant breakthrough in rare earth production. The company's Pr-Nd oxide production in Q1 reached 563 mt, a record high, up 36% QoQ from the previous quarter. This achievement was mainly attributed to process optimization and improved mine operational efficiency, particularly MP's sustained high production.

[SMM Daily Report on China's Rare Earth Market on May 9] This afternoon, the prices of rare earth oxides jumped initially and then pulled back. Recently, influenced by news and market speculation, the prices of rare earths have risen rapidly. However, while suppliers' quotations have remained high, the downstream demand situation has not improved. This has led to low purchase willingness among most buyers for high-priced raw materials. The overall transaction situation in the rare earth market has remained sluggish, with some suppliers' confidence weakening, leading them to lower prices and sell off their inventory.

【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.