SMM, October 13: Rare earth market prices showed an overall divergent trend today. Specifically, in the oxide market, Pr-Nd oxide prices rose by 3,500 yuan/mt, gadolinium oxide prices remained flat, dysprosium oxide prices remained flat, terbium oxide prices fell by 45,000 yuan/mt, holmium oxide prices remained flat, and erbium oxide prices rose by 5,000 yuan/mt.
In the metal market, Pr-Nd alloy prices rose by 1,500 yuan/mt, gadolinium-iron alloy prices fell by 1,500 yuan/mt, dysprosium-iron alloy prices fell by 5,000 yuan/mt, terbium metal prices fell by 100,000 yuan/mt, holmium-iron prices remained flat, and lanthanum-cerium metal prices remained flat.
Currently, rare earth market prices are diverging overall, with the Pr-Nd chain continuing to move higher while most medium-heavy rare earths weakened. Focusing on the Pr-Nd market, affected by top-tier players' procurement yesterday, the quotation range for Pr-Nd oxide shifted higher overall today, low-priced supply tightened further, and suppliers gained more confidence in holding prices firm compared with earlier. Pr-Nd alloy quotations rose accordingly, mainly as a passive adjustment in the metal processing segment amid persistently rising raw material costs, with limited overall gains. On the transaction front, downstream magnetic material enterprises continued to make just-in-time procurement, showing limited acceptance of raw materials after price increases, with actual orders following up slowly. The upward momentum has yet to be fully confirmed by trading volume.
In the medium-heavy rare earth market, most varieties turned weaker: terbium-related products saw a significantly wider decline, with terbium oxide and terbium metal falling in tandem. Affected by low transaction prices in yesterday's tender by a major magnetic material producer, the single-day decline in the metal segment was notably larger than that in oxides, indicating mounting shipment pressure and a greater willingness to cut prices in the processing segment. Dysprosium-related products ended their streak of stability, with dysprosium oxide holding steady while dysprosium-iron alloy edged lower. Gadolinium-related products also weakened, with gadolinium-iron quotations moving slightly lower while gadolinium oxide remained stable for now. Holmium-related products stayed flat, with no changes in either holmium oxide or holmium-iron. Erbium products extended gains, with the quotation center continuing to move higher.
Overall, rare earth market prices showed an intensifying divergence today, with Pr-Nd products extending gains while medium-heavy rare earths broadly weakened. Among them, terbium-related products saw a significantly wider decline, with the metal segment posting the largest single-day drop, while dysprosium-iron and gadolinium-iron also shifted from stable to lower. On the transaction front, downstream magnetic material enterprises continued to focus on just-in-time procurement, showing limited acceptance of raw materials after price increases, with actual orders following up slowly. Price fluctuations remained primarily driven by quotation adjustments.
In the short term, the market divergence is likely to persist: the Pr-Nd segment may retain resilience in the near term, supported by firm raw material prices and downstream just-in-time demand, but whether the upward momentum can continue depends on whether trading volume can expand. For medium-heavy rare earths, after consecutive declines in terbium-related products, attention should be paid to whether price concessions in the metal segment spread further, while dysprosium and gadolinium may follow a weak trend in the short term.
