[smm rare earth weekly review: rare earth prices fluctuate upward market transactions recover] this week, pr-nd oxide prices saw a significant increase. under the combined influence of continuously tight upstream supply, a noticeable rise in downstream export orders, and speculative capital inflows into the futures market betting on price increases, pr-nd oxide prices quickly rose to 630,000-634,000 yuan/mt within the week, with a weekly gain of 13.4%.

From August 15 to 19, the Pr-Nd market experienced a rare sharp rise — the average price of Pr-Nd oxide surged from 557,500 yuan/mt to 633,500 yuan/mt, a weekly increase of 13.6%; the average price of Pr-Nd alloy jumped from 677,500 yuan/mt to 772,500 yuan/mt, an increase of 14%. Tracing back to the beginning of the year, the cumulative increase in Pr-Nd oxide prices exceeded 40%, with the high pressure of prices continuously eroding the safety margin of the midstream of the industry chain. This article will explain from the demand side the intrinsic driving forces supporting whether this price can be sustained in the long term and the difficult situation of magnetic material and motor factories under the current price.

SMM August 19 News: Recently, the prices of Pr-Nd oxide and Pr-Nd alloy have shown a remarkable increase, which is not accidental but the result of multiple driving factors overlapping and resonating with each other.Today we discussed the reasons for this round of price increases

I. Core Raw Material Cost Proportion: Magnetic Material Dominates, Metal Materials Synergize

[SMM Rare Earth Weekly Review: Rare Earth Market Shows Differentiation, with Pr-Nd Oxide Prices Rising Significantly] This week, the overall price of Pr-Nd oxide saw a relatively significant increase. From the market sentiment perspective, upstream suppliers remained highly confident in the future prospects of Pr-Nd, with a weak willingness to sell at low prices. Meanwhile, the tight supply situation of Pr-Nd products persisted. Downstream buyers' purchase willingness improved, and the price of Pr-Nd oxide rose to 537,000-540,000 yuan/mt during the week.

For a long time, China has established absolute authority in the rare earth sector by leveraging its reserve advantages and monopoly in smelting and separation technologies. However, as the US-China rivalry intensifies, the US has accelerated the reconfiguration of the rare earth supply chain in collaboration with its allies through the Critical Minerals Act, promoting a process of "de-Sinicization."Against this backdrop, China's close monitoring of overseas rare earth developments is a crucial measure to safeguard the security of the industry chain and strategic initiative.

[SMM Rare Earth Weekly Review: Rare Earth Prices Pull Back Significantly, Actual Market Transactions Sluggish] This week, the price of Pr-Nd oxide began to show a downward trend. It is understood that due to factors in the news, the bullish sentiment of some traders in the future market was dampened. In recent days, the volume of Pr-Nd oxide actively offered in the market has increased significantly. Guided by the sentiment of "rush to buy amid continuous price rise and hold back amid price downturn", downstream buyers have been more cautious in inquiring about goods, leading to a decrease in market transaction activity. The price of Pr-Nd oxide fell to 522,000-525,000 yuan/mt.

The global competition for critical minerals has reached unprecedented levels in 2025, with major powers implementing aggressive strategies to secure supply chains essential for clean energy technologies, defense systems, and advanced electronics.