Rare earth prices rose rapidly

This week, rare earth prices rose rapidly, with Pr-Nd prices continuing to climb. Upstream holders maintained firm offers, and raw material prices remained high, but downstream magnetic material companies showed little enthusiasm for chasing the price increase. It is understood that the order volume for magnetic material companies saw a slight increase, but the growth rate of downstream orders did not match the pace of upstream price hikes, while upstream confidence in holding prices remained high, leading to intense back-and-forth negotiations between upstream and downstream.

This week, Pr-Nd oxide prices continued to rise, with mainstream prices increasing from last Thursday's 415,000-417,000 yuan/mt to this Thursday's 424,000-426,000 yuan/mt, an increase of about 2.2%. Pr-Nd alloy prices also saw a significant rise this week, moving from last Thursday's 516,000-520,000 yuan/mt to this Thursday's 524,000-528,000 yuan/mt, an increase of about 1.5%.

This week, driven by concentrated procurement from major manufacturers, Pr-Nd prices rose rapidly.