SMM Rare Earth Morning Meeting Summary: Rare Earth Metal Prices Decline, Market Activity Remains Low

Published: Apr 25, 2025 09:15

Save

SMM Rare Earth Morning Meeting Summary: Rare Earth Metal Prices Decline, Market Activity Remains Low. On the metal side, Pr-Nd alloy prices continued to fall rapidly, but the purchase willingness of magnetic material enterprises remained low. Poor order-taking in downstream sectors kept the market inquiry activity for metals persistently low, with some suppliers actively selling at lower prices.

View SMM rare earth quotations, data, and market analysis

Order and view SMM metal spot historical price trends

SMM April 25th news:

Rare earth ore

Prices: Rare earth carbonate prices are around 33,100 yuan/mt, monazite prices are around 40,800 yuan/mt, and medium-yttrium, europium-rich ore prices are around 180,000 yuan/mt.

Supply and demand: Currently, rare earth ore prices fluctuate downward with the oxide market, separation plants are not actively purchasing, and rare earth ore prices continue to be in the doldrums.

Rare earth oxides

Prices: Pr-Nd oxide quotation range is around 408,000-410,000 yuan/mt, dysprosium oxide mainstream quotation range is 1.6-1.62 million yuan/mt, and terbium oxide prices adjusted to around 6.75-6.8 million yuan/mt.

Supply and demand: Yesterday, Pr-Nd oxide prices continued to be weak, market purchasing enthusiasm was not high, and some industry players are more pessimistic about the future market; terbium oxide prices stabilized and rebounded yesterday, but the fluctuation range was relatively small.

Rare earth metals

Prices: Pr-Nd alloy mainstream quotation range is 500,000-505,000 yuan/mt, dysprosium-iron alloy prices are around 1.6-1.61 million yuan/mt, and terbium metal prices are around 8.45-8.55 million yuan/mt.

Supply and demand: In the metal sector, Pr-Nd alloy prices continue to decline rapidly, but magnetic material enterprises' purchase willingness remains low, poor downstream order-taking keeps metal market inquiry activity low, and some suppliers actively sell at low prices.

NdFeB blank

Prices: NdFeB blank N38 (Ce) reported 133-143 yuan/kg; NdFeB blank 40M prices reported 179-189 yuan/kg; NdFeB blank 40H prices reported 183-193 yuan/kg; NdFeB blank 45SH (ce) prices reported 233-253 yuan/kg.

Supply and demand: Yesterday, affected by the continuous decline in Pr-Nd alloy prices, some downstream magnetic material plants actively reduced blank prices to consume high-level inventory and reduce losses. Most magnetic material plants still adopt a strategy of purchasing as needed, mainly consuming inventory, and observing the next market trend.

NdFeB scrap

Prices: Pr-Nd recycled from NdFeB scrap reported 418-429 yuan/kg; dysprosium recycled from NdFeB scrap reported 1,617-1,639 yuan/kg; terbium recycled from NdFeB scrap reported 5,180-5,380 yuan/kg.

Supply and demand: Yesterday, NdFeB scrap prices did not change significantly, scrap market prices remained low, market willingness to sell was weak, and due to the continuous decline in downstream oxide prices, overall market trading was poor, with a strong market sentiment of wait-and-see.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Aug 21, 2026 18:53

[SMM Analysis] India Rare Earths: Application End Potential Is Real, But Industry Chain Self-Reliance Is Still Early

On August 13, 2026, the Ministry of Heavy Industries of India officially launched the technical bid evaluation for the "Sintered Rare Earth Permanent Magnet Manufacturing Promotion Plan" (REPM), with 20 bids vying for up to five licenses. On the surface, it appears to be a fierce "20-for-5" competition, but when examining the industry's fundamentals, the real protagonist of this story is not the 72.8 billion rupees (about $765 million) in subsidies, but the "three clocks" running simultaneously in India—the policy clock is already pointing to mass production in 2028, the commercialization clock of state-owned enterprise IREL points to 2029–2030, and the certification clock of downstream clients is measured in "years." The desynchronization of these three clocks is the most intuitive footnote to the fact that it is still too early for India's rare earth industry chain to develop.

Aug 21, 2026 18:53

Aug 21, 2026 18:18

China Rare Earth Permanent Magnet Export Analysis & Outlook (July 2026)【SMM Analysis】

According to China Customs data, China's rare earth permanent magnet (REPM) exports reached 5,375 tons in July 2026, down 4% MoM and 3.6% YoY. Total exports for January-July amounted to 36,880 tons, with a monthly average of 5,268 tons, aligning with SMM's earlier projections. SMM maintains its full-year 2026 REPM export forecast at approximately 61,600 tons, representing a YoY increase of about 7%.

Aug 21, 2026 18:18

Aug 21, 2026 18:02

【SMM Analysis】Pr-Nd Alloy Prices Rebound as Oxide Demand Surges, Halting Weeks of Decline

Aug 21, 2026 18:02