Rare earth prices jumped initially and then pulled back, with strong wait-and-see sentiment in the market [SMM Rare Earth Daily Review]

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SMM News on July 15: Today, the rare earth market prices jumped initially and then pulled back. Specifically, in the oxide market, the price of Pr-Nd oxide fell to 465,000-468,000 yuan/mt, the price of dysprosium oxide remained stable at 1.67-1.7 million yuan/mt, the price of terbium oxide remained stable at 7.16-7.2 million yuan/mt, and the price of gadolinium oxide fell to 165,000-168,000 yuan/mt; the price of holmium oxide fell to 525,000-528,000 yuan/mt, and the price of erbium oxide continued to fluctuate between 323,000-325,000 yuan/mt.

In the metal market, the price of Pr-Nd alloy fell to 573,000-577,000 yuan/mt, the price of dysprosium-iron alloy remained stable at 1.6-1.62 million yuan/mt, the quote of terbium metal remained stable at 8.9-8.95 million yuan/mt, the price of gadolinium-iron alloy remained stable at 159,000-161,000 yuan/mt, the market price of holmium-iron alloy remained stable at 530,000-535,000 yuan/mt, and the price of lanthanum-cerium metal continued to remain stable between 17,000-19,000 yuan/mt.

Currently, the rare earth market prices have jumped initially and then pulled back, mainly in the light rare earth market. Affected by the rapid rise in the oxide market yesterday, downstream orders could not support such high-priced Pr-Nd products, resulting in low market purchasing enthusiasm. The overall market trading was sluggish, with a strong wait-and-see sentiment. Market transactions were difficult, and some suppliers actively lowered their quotes to test market sentiment due to fear of high prices. However, the downstream's general "rush to buy amid continuous price rise and hold back amid price downturn" purchasing strategy led to generally average activity in market offers and inquiries. Overall, affected by the order situation of downstream magnetic material enterprises, it was difficult to close deals for high-priced metals. The metal market transactions were stagnant, which was transmitted upward to the oxide market, driving prices to jump initially and then pull back. It is expected that in the short term, prices may operate in the doldrums slightly.