August 20 news:
Rare earth ore:
Recently, the overall trading in the rare earth ore market remained sluggish, with separator operating rates staying low and purchase willingness weak; ore prices continued to pull back slightly. As of today, rare earth carbonate prices were in the range of 58,100-58,300 yuan/mt; monazite prices were temporarily stable this week at 41,000-45,000 yuan/mt; medium-yttrium, europium-rich ore prices were around 242,000-244,000 yuan/mt.
Rare earth oxides:
In light rare earths, lanthanum oxide prices showed no fluctuations this week, remaining stable at 5,200-5,800 yuan/mt, while cerium oxide market prices declined again, dropping to the range of 14,000-14,500 yuan/mt within the week. This week, Pr-Nd oxide prices were generally weak and stable with the center moving slightly downward. At the beginning of the week, market trading was sluggish, with suppliers reluctant to quote and some unwilling to offer prices; however, downstream metal plants continued to show poor purchase willingness, and large magnetic material factories did not enter the market for procurement as expected, leading to subdued market inquiries. From Tuesday, prices pulled back slightly, with some traders continuing to sell at low prices, and market pessimism spread somewhat. By Thursday, Pr-Nd oxide prices had pulled back slightly to 717,000-720,000 yuan/mt.
In medium-heavy rare earths, prices showed divergence this week, with dysprosium oxide becoming the most obvious rising variety. In the dysprosium oxide market, downstream inquiries and procurement activity were relatively high, with large factories entering the market to purchase, quickly tightening low-priced supply; suppliers successively raised their quotes. This week, dysprosium oxide prices rose from 1.38-1.4 million yuan/mt to the range of 1.4-1.41 million yuan/mt. For terbium oxide, some suppliers sold small quantities at low prices, but metal plants' raw material losses remained severe, making high-priced transactions difficult. This week, terbium oxide prices were stable at the beginning, and by today, market confidence recovered with suppliers holding firm quotes; the price range adjusted to 6.63-6.65 million yuan/mt. For gadolinium oxide, suppliers' willingness to lower prices and sell was not high, but downstream metal plants continued to push for lower prices with strong force; some suppliers sold small quantities at low prices, and actual transaction prices for gadolinium oxide continued to pull back slightly, dropping to 190,000-193,000 yuan/mt this week. The holmium oxide market saw relatively low trading activity, but influenced by dysprosium oxide, suppliers held firm quotes, and prices rose slightly this week to the range of 595,000-600,000 yuan/mt. For erbium oxide, suppliers currently quoted relatively firmly, but actual transactions remained poor; this week, inquiry activity for erbium oxide increased somewhat, driving quotes slightly higher, adjusting to the range of 620,000-630,000 yuan/mt. The yttrium oxide market was relatively stable recently; 5N yttrium oxide prices pulled back slightly this week to 58,000-60,000 yuan/mt, while 3N yttrium oxide prices were raised to 28,000-30,000 yuan/mt due to increased demand from the fiberglass market.
Rare Earth Metals:
Light rare earth side, cerium metal market prices showed no significant fluctuations this week, with suppliers' quotes stable at 29,000-30,000 yuan/mt. Pr-Nd alloy prices were generally in the doldrums this week, and due to persistently sluggish downstream inquiry activities, some suppliers slightly lowered their quotes. However, supported by oxide costs, metal enterprises had weak willingness to sell at low prices, keeping quotes relatively firm. Price declines were limited, and market transactions remained in a stalemate. As of today, suppliers adjusted their quotes to 865,000-875,000 yuan/mt.
Medium-heavy rare earth side, dysprosium-iron alloy reported at 1.36-1.37 million yuan/mt. Prices continued to edge up this week, mainly driven by the increase in oxide prices. Suppliers slightly raised their quotes, but market inquiries did not improve significantly, and actual transactions remained poor. Terbium metal prices rose to 8.2-8.25 million yuan/mt this week. Due to the scarcity of low-priced oxide supplies, metal enterprises raised quotes under cost support, but actual market transactions were sparse. Gadolinium-iron alloy prices were in the doldrums this week, primarily because overall market inquiries did not improve, coupled with a pullback in raw material prices. Suppliers lowered their quotes to 180,000-185,000 yuan/mt. Holmium-iron alloy prices edged up to 600,000-603,000 yuan/mt this week, mainly due to tightening low-priced oxide supplies. Suppliers raised quotes correspondingly, but downstream inquiry and procurement attitudes remained wait-and-see.
NdFeB Blanks:
Currently, NdFeB blanks N38 (Ce) reported at 209~219 yuan/kg; NdFeB blanks 40M reported at 255~265 yuan/kg; NdFeB blanks 40H reported at 259~269 yuan/kg; NdFeB blanks 45SH (Ce) reported at 309~329 yuan/kg.
In terms of prices, NdFeB prices temporarily stabilized this week, with the core reason being that raw material prices steadied, driving NdFeB prices to remain stable. In terms of trading, NdFeB market trading volume was average this week. The core reason was that in mid-August, although some motor factories had ended their holidays, the main supporting sector of NdFeB—new energy main drive motor factories—gradually entered maintenance periods, with operating rates lowered. This led to reduced orders for upstream NdFeB magnetic materials, resulting in overall average market trading volume.
NdFeB Scrap:
This week, Pr-Nd recycled from NdFeB scrap reported at 735-745 yuan/kg; dysprosium recycled from NdFeB scrap reported at 1,230-1,250 yuan/kg; terbium recycled from NdFeB scrap reported at 5,600-5,800 yuan/kg.
This week, scrap market prices were generally stable, mainly influenced by the weak stability of Pr-Nd oxide prices. Recycling enterprises did not adjust their external purchase quotes throughout the week. At the beginning of the week, the scrap market continued the wait-and-see atmosphere after last week's slight upward adjustment, and recycling enterprises' quotations were stable. In mid-week, although Pr-Nd oxide futures fluctuated frequently and spot prices continued to edge down, the decline was limited. Recycling enterprises' purchasing quotations saw no obvious adjustments, while scrap suppliers' attitude toward shipments remained wait-and-see. The circulation volume of compliant tax-included scrap on the market remained relatively low, and overall trading performance was average.
![Scrap prices remained stable, and market transactions continued to be weak [SMM Recycled Rare Earth Weekly Review]](https://imgqn.smm.cn/usercenter/QLmfa20251217171745.jpg)
