[SMM Rare Earth Morning Meeting Summary] Oxide prices edged up slightly, while metals and magnetic materials remained generally stable.

Published: Sep 1, 2026 10:16

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[Oxide offers edge up slightly, while metals and magnetic materials remain stable overall] Yesterday, Pr-Nd oxide offers began to rise from midday, as suppliers held a bullish outlook on the market, held prices firm, and were reluctant to sell at low prices. Downstream purchasing was relatively cautious, and actual transactions were limited. Dysprosium oxide prices moved steadily, with sluggish market inquiries and limited follow-through in actual deals. Terbium oxide prices held steady, with cautious downstream purchasing and a subdued trading atmosphere.

SMM, September 1:

Rare earth ore:

Prices: Rare earth chloride flakes were priced at approximately 63,500 yuan/mt, monazite at approximately 43,000 yuan/mt, and medium-yttrium, europium-rich ore at approximately 247,500 yuan/mt.

Supply and demand: Currently, the supply of ion-adsorption rare earth ore in Southeast Asia has declined slightly compared with the previous period, and oxide prices have begun to rise, with overall rare earth ore transaction prices starting to edge up.

Rare earth oxides:

Prices: Pr-Nd oxide prices remained generally stable, with afternoon quotes edging up; dysprosium oxide and terbium oxide prices moved steadily.

Supply and demand: Yesterday, Pr-Nd oxide quotes began rising from midday, as suppliers held a bullish outlook on the market, held prices firm, and were reluctant to sell at low prices, while downstream purchasing was relatively cautious and actual transactions were limited. Dysprosium oxide prices moved steadily, with sluggish market inquiries and limited follow-through in actual transactions. Terbium oxide prices held steady, with cautious downstream purchasing and a subdued market trading atmosphere.

Rare earth metals:

Prices: Pr-Nd alloy prices fluctuated relatively little, with factory quotes relatively firm, while dysprosium-iron alloy and terbium metal prices moved steadily.

Supply and demand: Yesterday, Pr-Nd alloy prices fluctuated relatively little, mainly due to sluggish market inquiries and firm raw material prices. Metal enterprises showed weak willingness to sell at low prices, but overall market trading activity was lackluster. In the medium-heavy rare earth market, affected by reduced market inquiries, dysprosium-iron alloy and terbium metal prices showed no significant fluctuations overall and remained stable.

NdFeB blanks:

Prices: NdFeB blank N38 (Ce) was quoted at 212-222 yuan/kg, NdFeB blank 38M at 250-270 yuan/kg, and NdFeB 38UH at 357-377 yuan/kg.

Supply and demand: Yesterday, NdFeB blank quotes remained stable for the time being, mainly because raw material prices held steady, keeping magnetic material quotes stable. In terms of trading, on the last working day of August, motor factory purchases and magnetic material factory sales generally opted for same-day review without trading, leaving overall market activity moderate.

NdFeB scrap:

Prices: Pr-Nd recycled from NdFeB scrap prices held steady, while dysprosium recycled from NdFeB scrap and terbium recycled from NdFeB scrap prices remained stable.

Supply and demand: Yesterday, the scrap market saw stable prices, mainly due to relatively small fluctuations in oxide prices. Recycling enterprises made no significant adjustments to their external purchase quotes, scrap suppliers remained cautious about selling, the circulation of compliant tax-inclusive scrap in the market was limited, and overall market trading activity was moderate.

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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