In March, Pr-Nd production increased slightly, and the rare earth market remained stable [SMM Analysis].

SMM April 2 News: In March 2025, the production of domestic Pr-Nd oxide and Pr-Nd alloy both showed slight increases. Among them, the production of Pr-Nd oxide increased by approximately 0.06% MoM, with the increment mainly concentrated in Jiangxi region, while the production of Pr-Nd alloy increased by about 1.9% MoM, with the increment mainly reflected in Sichuan and Inner Mongolia regions. According to SMM survey data, the production of Pr-Nd oxide maintained a relatively stable trend in March this year. Despite the constant flow of various news in the upstream market, including information whose authenticity remains to be verified, this mixed situation undoubtedly increased market uncertainty. Faced with such a market environment, downstream buyers showed obvious caution in the procurement process, resulting in less-than-ideal market inquiries for Pr-Nd oxide and trading volume falling short of expectations. Meanwhile, ore suppliers remained firm in their quotations, seemingly not in a hurry to sell but rather waiting for more favorable opportunities. In such a market atmosphere, the production situation of separation plants remained relatively stable. It is worth noting that most metal plants have formulated expansion plans this year, aiming to further increase market share and profitability by increasing production. At the same time, the price of Pr-Nd alloy remained relatively stable this month, without significant volatility, providing a stable cost environment for metal plant production. Therefore, the operating rates of some metal plants continued to improve, production activities became more active, and metal production also showed a slight upward trend MoM. Apply for a free trial of the SMM metal industry chain database.