Praseodymium-Neodymium Prices Soar, NdFeB Magnet Quotes Rise on Dec 1st

[SMM Rare Earth Daily Review: Rare earth prices diverge, with Pr-Nd rising continuously while medium-heavy rare earth remains in the doldrums] Overall, today's rare earth market showed a divergent pattern of "Pr-Nd prices raised while medium-heavy rare earth prices remained in the doldrums." In terms of transactions, the higher quotes did not simultaneously ignite buying interest. Downstream magnetic material enterprises remained largely in a wait-and-see mood, mainly purchasing on a rigid demand basis, and the actual negotiation center between buyers and sellers still had a gap. In the short term, although downstream magnetic material enterprises' rigid stocking demand emerged as the holiday approaches, their capacity to accept high-priced metals is limited, and Pr-Nd product prices may move sideways in a narrow range.

The Dominican Republic's Ministry of Energy and Mines reported that the country has compiled more than 5,000 sample analysis results from the rare earth project, making it possible to determine the project's resource estimate in November this year. The ministry plans to announce the project's first reserves in H1 2027 once the required technical and economic feasibility studies, including metallurgical, economic, environmental, and logistics studies, are completed. Dominican Minister of Energy and Mines Joel Santos announced the results and also commended the Cooperation Framework signed between the Dominican Republic and the US. The framework aims to secure the supply of critical minerals such as rare earths, a strategic step to consolidate bilateral relations and attract investment.