Rare Earth Market Shows Divergence: Light and Heavy RE Prices Move in Opposite Directions

Published: Jun 7, 2026 22:41

Save

This week, the rare earth market showed a clear divergence, with light and heavy rare earths moving in opposite directions. On the light rare earth side, trading sentiment for praseodymium-neodymium oxide turned subdued again, and metal plants remained reluctant to purchase. As a result, prices fluctuated within a narrow range. Although upstream separation plants still showed some willingness to support prices, downstream magnetic material companies and metal plants had low acceptance of current price levels, and new orders were limited, leading to a stalemate between buyers and sellers. Feedback from across the supply chain indicates that downstream users still lack the capacity to absorb high-priced oxides, and actual transactions were mostly small, just-in-time purchases with few bulk restocking activities. Consequently, neodymium-praseodymium prices are expected to continue their weak and volatile trend in the near term.

On the heavy rare earth side, the market for dysprosium oxide and terbium oxide was relatively more active, supported by market rumors and purchasing activity from some large smelters, prompting prices to gradually move higher. However, feedback from metal plants suggests that downstream order books for magnetic material companies have not materially improved, and overall demand remains weak. Although upstream suppliers are clearly trying to push prices higher, the lack of strong support from end-user orders means that actual transaction volumes are low, and high-priced deals remain sporadic. Overall, the rare earth market remains largely in a wait-and-see mode. Both the downward pressure on light rare earths and the passive uptick in heavy rare earths reflect the sluggish recovery in demand. In the short term, the market is likely to continue its subdued trajectory.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

4 hours ago

Rare Earth Prices Diverge; Upstream Holds Prices Firm, Downstream Waits and Sees [SMM Rare Earth Daily]

[SMM Rare Earth Daily Review: Rare Earth Prices Diverge as Upstream Holds Prices Firm and Downstream Waits and Sees] Overall, the Pr-Nd market saw a trading stalemate due to insufficient new orders from the downstream, while the upstream showed a strong willingness to hold prices firm; by contrast, the dysprosium and holmium markets witnessed suppliers raise quotations as low-priced supply dwindled. In the short term, influenced by the upstream's price-holding sentiment, Pr-Nd product prices are expected to drift higher.

4 hours ago

7 hours ago

[SMM Rare Earth Morning Briefing] Ore prices followed the increase in oxides, and trading activity in the magnetic material market was moderate.

[Ore Prices Follow Oxide Gains, Magnetic Material Market Sees Average Trading] Yesterday, Pr-Nd oxide market prices pulled back slightly following futures, but most suppliers held offer prices firm and low-priced supply remained hard to find. In the medium-heavy rare earth segment, dysprosium and terbium market prices continued to mainly hold up well, with some buyers making small purchases.

7 hours ago

[SMM Rare Earth Morning Briefing] Oxide prices diverge, metal trading is stagnant, and magnetic material demand slows down in the off-season

[Oxide Prices Diverge, Metal Trading Stalemate, Off-Season Magnetic Material Demand Slows] Yesterday, NdFeB blank quotations edged down slightly, mainly because lower raw material prices dragged down blank prices. In terms of trading, as the off-season set in, the production pace of end-users and motor factories gradually slowed, rigid demand orders were released moderately, while large-scale restocking orders have not yet been effectively released. Overall trading volume in the NdFeB market was modest.

7 hours ago