SMM Rare Earth Afternoon Trading Comment for November 4

[SMM Rare Earth Afternoon Transaction Comment] In the afternoon, Pr-Nd oxide prices edged up slightly from the morning. Suppliers raised their offers accordingly, and low-priced cargoes became scarce. Metal plants increased their inquiries, but actual transactions remained limited. Gadolinium oxide held the morning price level in the afternoon, with sellers refraining from further price cuts and buyers making only small inquiries as needed. Pr-Nd alloy offers stopped falling and rebounded, mainly because the raw material side, Pr-Nd oxide, moved up in the afternoon, restoring cost support, while low-priced cargoes in the metal market tightened. However, downstream inquiry sentiment remained largely wait-and-see, with few actual orders following through. Gadolinium-iron alloy offers continued to move lower in the afternoon, with more tentative inquiries from downstream, but transactions stayed sluggish.