[SMM Rare Earth Morning Briefing] Pr-Nd oxide offers remain firm with tightening low-priced supply, metal is stable but trading is weak, and medium-heavy rare earths edge down slightly.

Published: Aug 7, 2026 10:00

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[Pr-Nd Oxide Offers Firm, Low-Priced Supplies Tighten; Metals Stable but Transactions Weak; Medium-Heavy Rare Earths Slightly Follow Decline] Yesterday, driven by news-related factors, suppliers’ Pr-Nd oxide offers were overall relatively firm, and low-priced supplies tightened further, but most metal plants remained heavy with a wait-and-see sentiment, and their purchase willingness remained poor as orders had yet to see substantial improvement. For medium-heavy rare earths, downstream demand remained sluggish, some traders sold at low prices, and their actual transaction price center edged down slightly.

SMM, August 7:

Rare Earth Ore:

Prices: The price of rare earth chloride flakes was about 63,500 yuan/mt, monazite ore price was about 44,000 yuan/mt, and medium-yttrium, europium-rich ore price was about 247,000 yuan/mt.
Supply and Demand: Currently, the overall circulation frequency of rare earth ore remained sluggish, with the market in a stalemate. Weakness in oxide prices caused the actual transaction price center of rare earth ore to move lower.

Rare Earth Oxides:

Prices: Pr-Nd oxide prices were temporarily stable, with heavy wait-and-see sentiment in the market; dysprosium oxide and terbium oxide prices also edged lower overall.
Supply and Demand: Yesterday, driven by news factors, suppliers' offers for Pr-Nd oxide were relatively firm, and low-priced cargoes became scarce again. However, most metal plants remained heavily in a wait-and-see mode, and purchase willingness stayed poor as orders had not materially improved. On the medium-heavy rare earth side, downstream demand remained sluggish, and some traders sold at lower prices, causing the actual transaction price center to edge lower.

Rare Earth Metals:

Prices: Pr-Nd alloy prices were stable, downstream purchasing remained cautious, dysprosium-iron alloy prices were flat, and terbium metal prices edged down slightly.
Supply and Demand: Yesterday, influenced by minor fluctuations in Pr-Nd oxide prices, metal enterprises' offers were relatively firm, and overall prices were stable. However, downstream purchasing remained cautious, and actual transactions were weak. In the medium-heavy rare earth market, due to persistently sluggish inquiries and a pullback in raw material prices, terbium metal prices continued to decline, while dysprosium-iron alloy prices stayed stable, with no significant fluctuations overall.

NdFeB Blanks:

Prices: NdFeB blank N40 (Ce) closed at 216-226 yuan/kg, NdFeB blank 40M closed at 257-267 yuan/kg, and NdFeB 40UH closed at 361-381 yuan/kg.
Supply and Demand: Yesterday, NdFeB blank quotes remained stable for the time being, mainly because stable raw material prices supported NdFeB offers. In terms of transactions, mainstream motor plants entered summer maintenance from late July to early August, significantly reducing operating rates and lowering demand for NdFeB. Overall market trading was lackluster.

NdFeB Scrap:

Prices: Pr-Nd recycled from NdFeB scrap prices were unchanged, and dysprosium recycled from NdFeB scrap and terbium recycled from NdFeB scrap prices remained stable.
Supply and Demand: Yesterday, scrap market prices were overall flat, mainly affected by relatively small fluctuations in oxide prices. External purchase quotations from recycling enterprises saw no significant adjustments, and scrap suppliers showed a cautious sentiment toward selling. The circulation of tax-inclusive scrap in the market did not improve, and market trading was stagnant.

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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