Pr-Nd prices rise rapidly, while market transactions remain stagnant [SMM Rare Earth Daily Review]

Published: Jul 14, 2025 13:54

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[SMM Rare Earth Daily Review: Pr-Nd Prices Surge Rapidly Amid Stalemate in Market Transactions] Currently, rare earth market prices have risen significantly, primarily in the light rare earth sector. Due to supply reductions from Southeast Asian mines affected by the rainy season and production cuts at some separation plants resulting from environmental protection checks, Pr-Nd oxide supply has tightened. Concurrently, market sentiment continues to intensify. Bullish sentiment in the oxide market has surged, with suppliers showing strong reluctance to budge on prices and raising quotations across the board. Low-priced supplies in the market quickly diminished, driving oxide prices upward rapidly.

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SMM July 14: Rare earth market prices rose significantly today. Specifically, in the oxide market, Pr-Nd oxide prices increased to 474,000-476,000 yuan/mt, dysprosium oxide prices remained stable at 1.67-1.7 million yuan/mt, terbium oxide prices held steady at 7.16-7.2 million yuan/mt, while gadolinium oxide prices rose to 165,000-170,000 yuan/mt. Holmium oxide prices stayed flat at 525,000-530,000 yuan/mt, and erbium oxide prices continued fluctuating between 323,000-325,000 yuan/mt.

In the metal market, Pr-Nd alloy prices climbed to 580,000-586,000 yuan/mt, dysprosium-iron alloy prices increased to 1.6-1.62 million yuan/mt, terbium metal quotations remained stable at 8.9-8.95 million yuan/mt, gadolinium-iron alloy prices held steady at 159,000-161,000 yuan/mt, holmium-iron market prices rose to 530,000-535,000 yuan/mt, while lanthanum-cerium alloy prices continued stabilizing between 17,000-19,000 yuan/mt.

Currently, rare earth market prices showed significant increases, mainly in the light rare earth segment. Supply tightness of Pr-Nd oxide resulted from reduced ore supply from Southeast Asian mines affected by the rainy season and production cuts at some separation plants due to environmental protection checks, coupled with sustained market speculation. Bullish sentiment in the oxide market intensified, with suppliers showing strong reluctance to budge on prices and successively raising quotations. Low-priced spot cargoes tightened rapidly, driving oxide prices upward sharply. However, metal producers quoted cautiously with strong wait-and-see sentiment due to excessive oxide price hikes. While metal prices rose noticeably supported by oxide cost pressure, end-use demand showed no significant increase. Magnetic material manufacturers struggled to accept high-priced Pr-Nd alloy, with most inquiries being tentative and no actual transactions materializing. Overall, the current price surge was primarily driven by upstream support, while downstream order patterns couldn't accommodate such high metal prices, leaving the rare earth market in a stalemate of back-and-forth negotiations between upstream and downstream. In the short term, rare earth prices are expected to continue rising due to supply constraints and market sentiment.

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