Currently, the prices in the rare earth market are showing significant polarization: the prices in the light rare earth market remain stable, while those in the medium-heavy rare earth market have pulled back significantly. The main reason is that trading in the medium-heavy rare earth market has reached a stalemate, with suppliers actively lowering their quotes to gauge market sentiment. Due to weak end-use demand, magnetic material enterprises have reduced their demand for medium-heavy rare earth, leading to a decrease in actual market trading volume. In the light rare earth market, quotes for oxides remain firm. Metal plants, constrained by cost pressure, have maintained stable quotes, but market inquiries and trading activities are sluggish. Overall, weak end-use demand has resulted in magnetic material enterprises having a general acceptance of high-priced metals, and there is a strong wait-and-see sentiment in the market.