The rare earth market experienced significant fluctuations last week. Initially, the market showed a rapid upward trend; however, this upward trend did not hold, and soon there was a sharp decline, which greatly impacted the confidence of most traders in the future market. Although the rate of decline slowed in the latter part of the week, the overall trend had already changed significantly, and the confidence of many traders in the future market shifted from strong to weak.
With raw material prices remaining high, some factories were unable to match the high raw material costs through product sales in a timely manner, leading to squeezed profit margins. To maintain profitability, most separation plants kept their quotes firm.
Meanwhile, due to the uncertain market outlook, downstream magnetic material factories were cautious in their purchasing and unwilling to chase high prices. This resulted in rare earth prices, although weakening, gradually stabilizing.
