Rare Earth Prices Continue to Be Weak, Trading Sluggish [SMM Rare Earth Daily Review]

SMM July 30: The rare earth market continued to move in the doldrums today. Specifically for the oxide market, Pr-Nd oxide prices fell by 4,500 yuan/mt, dysprosium oxide prices remained flat, terbium oxide prices fell by 45,000 yuan/mt, gadolinium oxide prices fell by 1,000 yuan/mt, holmium oxide prices remained flat, and erbium oxide prices fell by 5,000 yuan/mt.

In the metal market, Pr-Nd alloy prices fell by 5,000 yuan/mt, dysprosium-iron alloy prices remained flat, terbium metal prices fell by 25,000 yuan/mt, gadolinium-iron alloy prices remained flat, holmium-iron market prices remained flat, and lanthanum-cerium metal (alloy grade) prices remained flat.

In markets outside China, Pr oxide FOB prices remained flat this week, Nd oxide FOB prices remained flat this week, Tb oxide FOB prices fell by $8/kg this week, Dy oxide FOB prices remained flat this week, Pr metal FOB prices remained flat this week, Nd metal FOB prices fell by $5/kg this week, and Tb metal FOB prices fell by $8/kg this week.

At present, the rare earth market continued to move in the doldrums. Focusing on the Pr-Nd market, affected by the pullback in Pr-Nd oxide futures prices and low market inquiry prices, some spot suppliers slightly cut their offers, but smelters held prices firm, limiting actual declines. Market trading sentiment remained sluggish, and actual transactions were in a stalemate. In the metal market, Pr-Nd alloy prices followed the decline under the combined pressure of falling oxide prices and insufficient downstream inquiry activity. Trading activity was weak, high-priced deals were hard to conclude, and overall wait-and-see sentiment was strong.

In the medium-heavy rare earth market, inquiries remained sluggish. Prices of terbium oxide and gadolinium products edged down slightly, while dysprosium and holmium product prices were relatively stable with no notable adjustments. Overall, under the dual pressure of lower Pr-Nd oxide futures and sluggish market inquiries, the rare earth market atmosphere was depressed, actual transactions were in a stalemate, and prices continued to move in the doldrums. In the short term, affected by the tug-of-war between sellers and buyers, Pr-Nd product prices are expected to move sideways in a narrow range.