SMM, July 23: Rare earth market prices were in the doldrums today. Specifically, in the oxide market, Pr-Nd oxide prices dropped by 3,500 yuan/mt, dysprosium oxide prices dropped by 5,000 yuan/mt, terbium oxide prices dropped by 75,000 yuan/mt, gadolinium oxide prices dropped by 2,000 yuan/mt, holmium oxide prices held steady, and erbium oxide prices rose by 20,000 yuan/mt.
In the metal market, Pr-Nd alloy prices dropped by 5,000 yuan/mt, dysprosium-iron alloy prices held steady, terbium metal prices dropped by 50,000 yuan/mt, gadolinium-iron alloy prices dropped by 1,500 yuan/mt, holmium-iron prices held steady, and lanthanum-cerium metal (alloy grade) prices held steady.
Currently, the rare earth market is exhibiting a weak pricing trend overall. Focusing on the Pr-Nd market, Pr-Nd oxide futures prices pulled back, while spot market trading was stagnant. Affected by this dual impact, some oxide suppliers chose to slightly lower their offer prices; however, factory quotes remained firm, resulting in limited declines in actual transaction prices. In the metal market, quotes were lowered in tandem with the falling oxide prices. Due to a noticeable reduction in downstream inquiries, metal market transactions continued to be under pressure, making high-priced deals increasingly difficult and the phenomenon of losses more pronounced.
In the medium-heavy rare earth market, persistently sluggish inquiries led suppliers of products like dysprosium, terbium, and gadolinium to slightly lower their offer prices. Nevertheless, actual trading remained weak. In contrast, as low-priced spot sources gradually tightened for erbium oxide and yttrium oxide, suppliers continued to raise their offer prices; however, trading activity was mediocre.
Overall, downstream new orders performed poorly, which, combined with the pullback in Pr-Nd oxide futures prices, kept market inquiries sluggish. Rare earth market prices were broadly weak, with actual trading performance lacking. It is expected that in the short term, influenced by weak fundamentals on both the supply and demand sides, Pr-Nd product prices will likely move sideways.
![Rare earth prices show divergence; Pr-Nd is weaker while medium-heavy rare earth holds steady [SMM Rare Earth Daily Review]](https://imgqn.smm.cn/usercenter/vpWKL20251217171743.jpeg)
![[SMM Rare Earth Morning Meeting Minutes] Pr-Nd series quotations remain firm with weak transactions, medium-heavy rare earth prices stay stable, and magnetic materials see a slight recovery.](https://imgqn.smm.cn/usercenter/rqOXm20251217171744.jpeg)
