[SMM Rare Earth Afternoon Trading Comment] In the afternoon, Pr-Nd oxide prices edged lower, suppliers slightly loosened their quotes, downstream purchases were mainly need-based, and actual transactions were limited. Gadolinium oxide quotes remained stable in the afternoon, with suppliers holding prices steady on shipments, while inquiries were sparse and trading was inactive. For Pr-Nd alloy, afternoon inquiry activity was sluggish, and with raw material prices pulling back, some alloy enterprises lowered their quotes, though the decline was limited by cost support. Gadolinium-iron alloy prices continued to run steadily in the afternoon, with subdued trading activity.
![Bao Gang United Steel and China Northern Rare Earth Q4 rare earth concentrates transaction prices edge up QoQ; how will the market perform going forward? [SMM Commentary]](https://imgqn.smm.cn/usercenter/FHiZE20251217171722.jpeg)
![September Pr-Nd oxide production rebounds about 3% MoM; will the tight supply pattern persist? [SMM Analysis]](https://imgqn.smm.cn/usercenter/PVQnj20251217171744.jpg)
![Prices outside China remain stable for now, while non-China industry chain construction accelerates [SMM Rare Earth Overseas Weekly Review]](https://imgqn.smm.cn/usercenter/vpWKL20251217171743.jpeg)
