[SMM Rare Earth Morning Briefing] Pr-Nd Prices Continue to Rise, Rare Earth Market Transactions Cooling but Confidence Remains Strong

Published: Jul 6, 2026 09:57

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[Pr-Nd prices continue to rise, rare earth market transactions turn light but confidence remains strong] Last week, scrap market prices continued to be raised, mainly affected by the continuous raising of oxide offer prices. Recycling enterprises' external purchase offer prices also continued to be raised. However, with the implementation of the new national standard for rare earth recycling, suppliers' attitude toward shipments was more wait-and-see, and overall market trading was moderate.

SMM, July 6:

Rare earth ore

prices: Rare earth carbonate prices stood at about 61,600 yuan/mt, monazite prices at about 44,000 yuan/mt, and rare earth chloride flake prices at about 63,500 yuan/mt.

Supply and demand: Currently, the overall circulation frequency of rare earth ores remained sluggish, with market trading conditions stagnant; however, the rise in oxide prices led to an increase in the actual transaction prices of rare earth ores.

Rare earth oxide

prices: Pr-Nd oxide prices continued to rise, but inquiries and transactions in the market became sluggish as the weekend approached; medium-heavy rare earth prices were relatively stable overall.

Supply and demand: Last week, market quotes for Pr-Nd oxide were continuously raised. As the weekend approached, downstream inquiry activity turned sluggish, but overall market confidence remained relatively strong. For medium-heavy rare earths, terbium oxide prices saw a slight increase in actual transaction prices due to tenders from downstream magnetic material enterprises, while dysprosium oxide prices remained generally stable overall.

Rare earth metal

prices: Pr-Nd alloy prices rose, with the market dominated by tentative inquiries; dysprosium-iron alloy and terbium metal prices remained stable.

Supply and demand: Last week, Pr-Nd alloy prices continued to rise. Although downstream inquiry activity decreased as the weekend approached, low-priced sources in the market were scarce. Coupled with the continued rise in oxide prices, metal enterprises raised their quotes accordingly. For medium-heavy rare earths, market inquiries were average, and metal enterprises' quotes were generally stable overall.

NdFeB blank

prices: NdFeB blank N35 (Ce) was quoted at 213-223 yuan/kg, NdFeB blank 35M at 258-268 yuan/kg, and NdFeB 35UH at 358-378 yuan/kg.

Supply and demand: Last week, NdFeB blank quotes remained stable initially. The core reason was that raw material prices first stabilized, driving NdFeB prices to remain stable. In terms of trading, constrained by the end of month-end rigid restocking demand from the motor and terminal end-user sectors, orders transmitted to NdFeB enterprises were limited, resulting in average market trading activity.

NdFeB scrap

prices: Pr-Nd recycled from NdFeB scrap prices continued to rise, while dysprosium recycled from NdFeB scrap and terbium recycled from NdFeB scrap prices remained stable.

Supply and demand: Last week, scrap market prices continued to rise, primarily influenced by the continuous increase in oxide quotes. Recycling enterprises continued to raise their external purchase quotes. However, with the implementation of new national standards for rare earth recycling, suppliers adopted a wait-and-see attitude towards selling, resulting in overall average market trading performance.

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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