Solvay Secures Rare Earth Supply Deal with Viridis for European Demand Growth

This week, rare earth oxide and metal prices outside China remained largely stable amid sluggish trading, while price fluctuations in China had not yet been transmitted. Industrial developments were intensive: India’s Mecwin teamed up with Germany’s Fraunhofer to lay out the entire NdFeB industry chain; Sweden approved a 25-year lease for the North Kärr rare earth mine, and Namibia’s Kieshoehe project verified deep potential. Iluka obtained an Australian government loan to advance the Eneabba refinery, and ULVAC, driven by surging demand in Europe and the United States, planned to build a new melting furnace production line in Japan. U.S. and Australian enterprises achieved breakthroughs in high-purity rare earth refining and hard disk recycling technologies, while Canada and Japan actively promoted cooperation on the critical minerals supply chain.

[SMM Rare Earth Daily Review: Rare Earth Prices Generally Rise, Market Inquiry and Transaction Activity Remains Weak] On the whole, influenced by the noticeably improved market trading activity yesterday, low-priced sources of rare earth materials tightened overall, and suppliers have raised their quotes one after another. However, downstream inquiry activity has decreased to some extent, and actual transaction performance in the market has been lackluster. In the near term, affected by the tightening of low-priced sources in the market, Pr-Nd product prices will likely drift higher.

[Top-tier players' purchases drive Pr-Nd price surge, boosting trading activity in rare earth market] Yesterday, scrap market prices continued their upward trend, mainly due to sustained increases in oxide price quotations, leading recycling enterprises to raise their external purchase quotes further. However, with the implementation of the new national standard for rare earth recycling, suppliers adopted a wait-and-see approach to shipments, making procurement more difficult for recycling enterprises.