[SMM Rare Earth Morning Briefing] Pr-Nd oxide offers stall, low-price shipments continue; metal prices follow the decline and transactions are in stalemate; magnetic material orders recover with the resumption of work.

Published: Aug 10, 2026 10:21

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[Pr-Nd Oxide Quotations Stall, Low-Price Shipments Persist; Metal Follows Decline, Transactions in Stalemate; Magnetic Material Orders Recover with Work Resumption] Last week, affected by fluctuations in futures prices, bearish sentiment spread in the market. The wait-and-see sentiment among downstream metal plants further intensified. Most upstream suppliers stopped quoting, but some traders indicated they could continue low-price shipments. In the medium-heavy rare earth market, dysprosium oxide and terbium oxide saw relatively small changes, with prices temporarily relatively stable.

SMM, August 10:

Rare Earth Ore:

Prices: Rare earth chloride flakes were priced at approximately 63,500 yuan/mt, rare earth carbonate was around 59,600 yuan/mt, and medium-yttrium, europium-rich ore was about 247,000 yuan/mt.
Supply and Demand: Currently, the overall circulation frequency of rare earth ore remains low, market trading is in a stalemate, and the weakening of oxide prices has caused the center of actual transaction prices for rare earth ore to shift downward.

Rare Earth Oxides:

Prices: As the weekend approached, Pr-Nd oxide quotations in the market stalled, with some traders indicating they could sell at lower prices; dysprosium oxide and terbium oxide prices were temporarily stable.
Supply and Demand: Last week, influenced by fluctuations in futures prices, bearish sentiment spread in the market. Downstream metal plants intensified their wait-and-see sentiment, and most upstream suppliers stopped quoting prices, though some traders indicated they could continue selling at lower prices. In the medium-heavy rare earth market, there was relatively little change for dysprosium oxide and terbium oxide, with prices remaining temporarily stable.

Rare Earth Metals:

Prices: Pr-Nd alloy prices operated steadily, with downstream purchasing remaining cautious. Dysprosium-iron alloy and terbium metal prices held unchanged.
Supply and Demand: Last week, affected by the continued weakening of Pr-Nd oxide prices and low market inquiry activity, the overall trading atmosphere was sluggish. Metal enterprises continuously lowered their quotations, but downstream inquiry prices were relatively low, resulting in stagnant actual transactions. In the medium-heavy rare earth market, as market inquiry activity did not improve, supplier quotations remained unadjusted, leading to an overall stable operation.

NdFeB Blanks:

Prices: NdFeB blank N35 (Ce) was quoted at 206-216 yuan/kg, NdFeB blank 35M at 251-261 yuan/kg, and NdFeB 35UH at 351-371 yuan/kg.
Supply and Demand: Last week, NdFeB blank quotations were lowered, primarily driven by the decline in raw material prices, which dragged down NdFeB prices. On the transaction side, as August began, some downstream motor manufacturers gradually resumed production, and rising operating rates led to a slight recovery in NdFeB orders.

NdFeB Scrap:

Prices: Pr-Nd recycled from NdFeB scrap prices decreased, while dysprosium recycled from NdFeB scrap and terbium recycled from NdFeB scrap prices remained stable.
Supply and Demand: Last week, scrap market prices declined, mainly influenced by the continued weakening of oxide prices. Recycling enterprises correspondingly lowered their external purchase quotations, but scrap suppliers showed weak willingness to sell at low prices. The circulation volume of tax-included scrap in the market was limited, leading to a stalemate in the tug-of-war between upstream and downstream.

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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