[SMM Rare Earth Weekly Review: Rare Earth Prices Fluctuated with Medium-Heavy Rare Earth Prices Rising] This week, the price trend of Pr-Nd oxide remained weak. Currently, most industry players maintained a strong wait-and-see sentiment due to the impact of news factors, leading to significantly weaker market procurement activity. Although separation plants held firm on their quotations, some traders had already begun actively selling at lower prices. Within the week, the price of Pr-Nd oxide pulled back to 595,000-598,000 yuan/mt.

SMM's monthly production data for base metals is released at the end of each month, aiming to uncover the true fundamentals for industry chain professionals and investors, and providing a clearer grasp of the future direction of the metals market.

On Tuesday, US President Trump mentioned during a press conference with South Korean President Lee Jae-myung that if China were to halt the export of rare earth magnets again, "countermeasures such as imposing 200% tariffs would be taken." However, he acknowledged that such high tariffs would signify a breakdown in bilateral trade. Subsequently, China's Foreign Ministry responded, stating that China consistently handles and advances China-US relations based on the principles of mutual respect, peaceful coexistence, and win-win cooperation, while firmly safeguarding its own sovereignty, security, and development interests.

[smm rare earth weekly review: rare earth prices fluctuate downward market transactions stall] this week, pr-nd oxide prices pulled back. on one hand, as pr-nd oxide prices rose rapidly, downstream purchase willingness gradually decreased. on the other hand, influenced by news factors, traders' confidence in the future weakened, and they began to dump goods at lower prices. during the week, pr-nd oxide prices pulled back to 600,000-608,000 yuan/mt.

In July 2025, China's total exports of NdFeB permanent magnets reached 5,577.13 mt, up 77.95% MoM, with exports to Europe at 1,528.85 mt, accounting for 27% of the monthly export total. Cumulative data from January-July 2025 shows that China exported 11,476.77 mt of rare earth permanent magnets to Europe, representing 41% of its global exports. Germany, as the largest demand country in Europe, imported 5,534 mt from January to June, accounting for 48% of Europe's total imports, reflecting the deep reliance of Europe's new energy industry on China's supply chain.

China has implemented sweeping new regulations to tighten its control over rare earth minerals, expanding its quota system to include imported raw materials. This strategic move, announced on August 22, 2025, further consolidates China's grip on the global supply chain of these critical minerals energy transition and defense applications.

[Analysis by SMM: SMM Pr-Nd Alloy Transaction Sentiment Factor Launched to Capture Changes in the Rare Earth Market Trends] Against the backdrop of sharp fluctuations in Pr-Nd alloy prices and intensifying back-and-forth negotiations between upstream and downstream, the industry urgently needs a barometer that can accurately capture real-time transaction dynamics. After a period of accumulation by the SMM rare earth team, the SMM rare earth database is set to launch the Pr-Nd alloy transaction sentiment factor on September 1, 2025, providing enterprises along the industry chain with a quantifiable, traceable, and early-warning reference for sentiment.

[SMM Analysis: SMM Pr-Nd Oxide Transaction Sentiment Factor Launched to Capture Changes in Rare Earth Market Trends] The Pr-Nd oxide market has experienced significant fluctuations, and it is challenging to capture the factors influencing prices during transactions between buyers and sellers. To better serve the spot Pr-Nd oxide market, the SMM rare earth research team, after a period of data accumulation and internal model calculations, has developed the Pr-Nd oxide transaction sentiment factor. Starting from September 1, 2025, this factor will be updated at 12:00 PM every working day, providing the industry chain with a quantifiable, traceable, and early-warning reference for sentiment.

[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.