At the beginning of June, driven by policy news, upstream suppliers significantly raised their quotes for Pr-Nd products. However, downstream demand failed to keep pace, and due to reluctance to accept high prices, Pr-Nd prices began to correct in the middle of the month. Nevertheless, in late June, influenced by factors such as long-term agreement deliveries at month-end, frequent tenders by major magnetic material manufacturers, and procurement by leading northern manufacturers, upstream suppliers' confidence strengthened, and their quotes became firmer, leading to a stabilization of Pr-Nd prices. During the same period, dysprosium and terbium prices generally remained in the doldrums. Overall, rare earth market prices in June mostly fluctuated rangebound, with production increasing MoM: Pr-Nd oxide rose by 1.48%, dysprosium oxide fell by 0.31%, and terbium oxide dropped by 1.6%. Production of both light rare earths and medium-heavy rare earths increased MoM. Entering July, the rare earth market is currently maintaining stable operation.