[SMM Rare Earth Afternoon Transaction Comment] In the afternoon, trading in the Pr-Nd oxide market was sluggish, and its quotations remained within the range of 718,000-720,000 yuan/mt; gadolinium oxide quotations were also relatively stable, and market conditions saw relatively small changes; trading in the Pr-Nd alloy market remained in a stalemate, with metal enterprises' quotations firm and stable at 870,000-875,000 yuan/mt; inquiry activity in the GdFe market did not increase significantly, and prices remained stable at 183,000-185,000 yuan/mt.


![Domestic demand recovery remains slow, combined with the rainy season not yet over, imports of unlisted rare earth oxides pulled back slightly MoM in August [SMM Analysis]](https://imgqn.smm.cn/usercenter/QLmfa20251217171745.jpg)
