Rare Earth Prices Raised Overall, Market Inquiries and Transactions Weak [SMM Rare Earth Daily Review]

Published: Jul 3, 2026 14:34

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[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.

SMM July 3: Today, the rare earth market held up well. Specifically, in the oxide market, Pr-Nd oxide price rose 7,500 yuan/mt, dysprosium oxide price remained flat, terbium oxide price rose 15,000 yuan/mt, gadolinium oxide price rose 4,500 yuan/mt, holmium oxide price remained flat, and erbium oxide price remained flat.

In the metal market, Pr-Nd alloy price rose 10,000 yuan/mt, dysprosium-iron alloy price remained flat, terbium metal price remained flat, gadolinium-iron alloy price rose 1,000 yuan/mt, holmium-iron market price remained flat, and lanthanum-cerium metal (alloy-grade) price remained flat.

At present, the rare earth market prices showed an overall upward trend. Focusing on the Pr-Nd market, driven by the significantly increased trading activity yesterday, low-priced supply of Pr-Nd oxide tightened, and oxide suppliers raised their offers one after another. However, overall market inquiry activity decreased compared to yesterday, and actual transaction conditions were not ideal. In the metal market, supported by oxide costs, prices also rose. However, downstream magnetic material enterprises had limited inquiry activities, and metal enterprises were not very active in offering, leading to a sluggish overall market trading atmosphere with a strong wait-and-see sentiment.

In the medium-heavy rare earth market, terbium prices edged up, mainly thanks to the tender procurement activities by a major magnetic material enterprise yesterday, which made low-priced supply in the terbium oxide market hard to find, and prices rose slightly. Meanwhile, driven by the rise in Pr-Nd prices, gadolinium product prices also followed, with suppliers raising their offers accordingly.

Overall, driven by the significantly improved trading activity yesterday, low-priced supply in the rare earth market tightened across the board, and suppliers raised their offers one after another. However, downstream inquiries decreased, and actual transactions were lackluster. It is expected that in the short term, amid the tight low-priced supply, Pr-Nd product prices may drift higher.

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.

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