Currently, the prices in the rare earth market have risen significantly, primarily due to the market's bullish sentiment driven by the procurement activities of major manufacturers. This has led to a shortage of oxide supplies in the market, prompting suppliers to raise their prices. This price increase has then been transmitted to the metal market, with metal enterprises following suit and raising their quotes. However, this price increase was driven by the procurement activities of major manufacturers. Orders from downstream magnetic material enterprises have not increased, nor has the demand for metal procurement risen significantly, resulting in active inquiries but fewer actual transactions in the metal market. Overall, the market price increase has led to an increase in inquiry activity, but there has been no substantial change in the supply-demand pattern. The market remains in a state of weak supply and demand, resulting in sluggish trading.