Rare earth market prices remain stable, with sluggish trading activities in both upstream and downstream sectors [SMM Rare Earth Daily Review]

Published: Jun 26, 2025 15:37

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[SMM Rare Earth Daily Review: Rare Earth Market Prices Remain Stable, with Sluggish Trading Between Upstream and Downstream] Currently, rare earth market prices are running smoothly, primarily due to the tightening of low-priced supplies in the oxide market. Even though there are fewer transactions in the market, suppliers have high expectations for future prices and are reluctant to sell at low prices, showing strong reluctance to budge on prices. Metal plant quotes remain stable at high levels, supported by oxide costs. However, magnetic material plants have not seen an improvement in order conditions, and their acceptance of high-priced metals is average, resulting in sluggish trading in the overall market.

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SMM reported on June 26: Today, the rare earth market experienced a two-tiered price differentiation. Specifically, in the oxide market, the price of Pr-Nd oxide remained stable at 444,000-446,000 yuan/mt, dysprosium oxide at 1.615-1.625 million yuan/mt, terbium oxide at 7.1-7.13 million yuan/mt, and gadolinium oxide at 160,000-162,000 yuan/mt. The price of holmium oxide remained stable at 514,000-518,000 yuan/mt, while the price of erbium oxide continued to fluctuate within the range of 300,000-305,000 yuan/mt.

In the metal market, the price of Pr-Nd alloy remained stable at 543,000-547,000 yuan/mt, dysprosium-iron alloy at 1.56-1.58 million yuan/mt, terbium metal at 8.8-8.85 million yuan/mt, and gadolinium-iron alloy at 156,000-157,000 yuan/mt. The market price of holmium-iron alloy remained stable at 515,000-525,000 yuan/mt, while the price of lanthanum-cerium alloy continued to remain stable at 17,000-19,000 yuan/mt.

Currently, the rare earth market is operating steadily, primarily due to the tightening of low-priced supplies in the oxide market. Despite fewer transactions, suppliers have high expectations for future prices and are reluctant to sell at low prices, showing strong reluctance to budge on prices. Metal factory quotes remain high and stable, supported by oxide costs. However, magnetic material factories have generally low acceptance of high-priced metals due to unimproved order conditions, resulting in sluggish overall market transactions. Overall, due to weak end-use demand, magnetic material factories find it difficult to accept high-priced metals, leading to a stalemate in market transactions. It is expected that in the short term, rare earth prices may operate steadily.

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.

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