Upstream and downstream rare earth industries remain at a stalemate, with prices continuing to run smoothly [SMM Rare Earth Daily Review]

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SMM June 4: Rare earth market prices remained stable today. Specifically, in the oxide market, Pr-Nd oxide prices held steady at 437,000-439,000 yuan/mt, dysprosium oxide prices stabilized at 1.62-1.64 million yuan/mt, terbium oxide prices maintained at 7.16-7.2 million yuan/mt, and gadolinium oxide prices stayed at 163,000-165,000 yuan/mt. Holmium oxide prices remained unchanged at 513,000-517,000 yuan/mt, while erbium oxide prices continued fluctuating between 300,000-305,000 yuan/mt.

In the metal market, Pr-Nd alloy prices dropped to 535,000-537,000 yuan/mt today, dysprosium-iron alloy prices stabilized at 1.58-1.59 million yuan/mt, terbium metal quotations held firm at 8.8-8.9 million yuan/mt, gadolinium-iron alloy prices remained steady at 158,000-161,000 yuan/mt, holmium-iron market prices stayed unchanged at 524,000-528,000 yuan/mt, and lanthanum-cerium alloy prices continued stabilizing at 17,000-19,000 yuan/mt.

Currently, rare earth market prices remain stable. Affected by costs, oxide prices still stay at high levels. Due to lack of significant improvement in end-use demand, downstream magnetic material enterprises reported average order intake and showed reluctance to accept high-priced metals, making metal price increases difficult. The inverted price phenomenon among metal enterprises is unlikely to ease in the short term. Overall, as rare earth mining quotas have not yet been issued, most market participants maintain a wait-and-see attitude, awaiting policy signals. Rare earth prices are expected to remain stable in the near term.