SMM, September 1: The rare earth market consolidated on a strong note today. Specifically, in the oxide market, Pr-Nd oxide prices were raised by 3,500 yuan/mt, dysprosium oxide prices were flat, terbium oxide prices were flat, gadolinium oxide prices were flat, holmium oxide prices were raised by 3,500 yuan/mt, and erbium oxide prices were raised by 7,500 yuan/mt.
In the metals market, Pr-Nd alloy prices were flat, dysprosium-iron alloy prices were flat, terbium metal prices were flat, gadolinium-iron alloy prices were flat, holmium-iron prices were flat, and lanthanum-cerium metal (alloy grade) prices were flat.
Currently, rare earth market prices are consolidating on a strong note overall. Focusing on the Pr-Nd market, driven by Pr-Nd oxide futures prices stopping falling and rebounding, spot suppliers' willingness to hold prices firm strengthened, offers were raised, low-priced cargoes in the market tightened, and Pr-Nd oxide prices rebounded slightly. However, the Pr-Nd alloy segment struggled to catch up, as downstream magnetic material enterprises remained cautious in inquiries and procurement, actual transaction follow-through was limited, metal enterprises kept offers stable with a strong wait-and-see sentiment, and with cost inversion pressure still present, trading in the metals market remained stagnant.
In the medium-heavy rare earth market, prices of dysprosium, terbium, gadolinium, and other products were generally stable with no notable adjustments; holmium and erbium products saw suppliers raise offers slightly due to difficulty finding low-priced cargoes; metal product prices were largely stable, with limited actual transaction follow-through.
Overall, the rare earth market consolidated on a strong note, driven by the recovery in Pr-Nd oxide futures and tightening low-priced cargoes for some medium-heavy rare earth products, but downstream follow-through remained cautious and actual transactions were stagnant. In the near term, as the traditional "September-October peak season" demand period approaches, downstream magnetic material enterprises' order and production schedule expectations are expected to improve somewhat, and Pr-Nd product prices are likely to maintain a drifting higher pattern; medium-heavy rare earth products, with limited inquiry activity, are likely to continue consolidating on a strong note.
![[SMM Rare Earth Morning Meeting Summary] Oxide prices edged up slightly, while metals and magnetic materials remained generally stable.](https://imgqn.smm.cn/usercenter/vpWKL20251217171743.jpeg)
