SMM Rare Earth Morning Meeting Summary: Rare Earth Metal Transaction Prices Decline Amid Sluggish Market Demand. In the metal sector, downstream demand remained sluggish. Some suppliers, with persistently weak confidence in the future market, continuously lowered their quoted prices. Buyers exerted strong pressure to drive down prices, and the actual transaction prices in the market continued to decline.

In March 2025, China's imports of rare earth permanent magnets totaled 270.578 mt, with imports from the top 10 trading partners amounting to 269.255 mt. Exports of rare earth permanent magnets from China in March totaled 5,324.63 mt, with exports to the top 10 trading partners reaching 4,076.955 mt.

April 23 SMM China Rare Earth Market Daily: Today, rare earth prices continued to experience a slight decline. Supply side, upstream producers maintained firm quotations, and the availability of low-priced sources from traders decreased, leading to a noticeable slowdown in the decline of actual transaction prices. Demand side, downstream purchasers primarily engaged in purchasing as needed, with significant pressure to drive down prices during inquiries. The intensity of back-and-forth negotiations between upstream and downstream increased. It is expected that rare earth prices will remain slightly in the doldrums in the near term.