SMM, December 29: This week, Pr-Nd prices showed a recovery trend. As of Thursday, Pr-Nd oxide prices increased by 1.9% WoW. However, the positive trend was short-lived. As Pr-Nd oxide prices surpassed 400,000 yuan/mt, some upstream suppliers began to exhibit resistance to high prices, and downstream buyers were also unwilling to continue purchasing at elevated prices. Consequently, Pr-Nd prices weakened again on Friday.
According to the SMM survey, downstream magnetic material enterprises currently have relatively low order prices for Pr-Nd, equivalent to approximately 480,000 yuan/mt for Pr-Nd alloy. This indicates that downstream magnetic material enterprises are still facing losses due to raw material costs. The rise in upstream raw material prices has imposed significant cost pressure on downstream magnetic material enterprises, further weakening their willingness to take orders.
As the year-end holiday approaches, some magnetic material enterprises with fewer orders will gradually begin to take breaks, leading to relatively low demand for raw materials. The trading volume of Pr-Nd in the market remains relatively small. Upstream separation plants continue to maintain firm quotations, while buyers have adopted a more cautious sentiment. Considering the above factors, SMM expects that Pr-Nd prices are unlikely to see an upward trend before the year-end holiday.
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