SMM Rare Earth Morning Meeting Summary: Rare Earth Metal Prices Decline, Market Activity Remains Low

Published: Apr 25, 2025 09:15

Save

SMM Rare Earth Morning Meeting Summary: Rare Earth Metal Prices Decline, Market Activity Remains Low. On the metal side, Pr-Nd alloy prices continued to fall rapidly, but the purchase willingness of magnetic material enterprises remained low. Poor order-taking in downstream sectors kept the market inquiry activity for metals persistently low, with some suppliers actively selling at lower prices.

View SMM rare earth quotations, data, and market analysis

Order and view SMM metal spot historical price trends

SMM April 25th news:

Rare earth ore

Prices: Rare earth carbonate prices are around 33,100 yuan/mt, monazite prices are around 40,800 yuan/mt, and medium-yttrium, europium-rich ore prices are around 180,000 yuan/mt.

Supply and demand: Currently, rare earth ore prices fluctuate downward with the oxide market, separation plants are not actively purchasing, and rare earth ore prices continue to be in the doldrums.

Rare earth oxides

Prices: Pr-Nd oxide quotation range is around 408,000-410,000 yuan/mt, dysprosium oxide mainstream quotation range is 1.6-1.62 million yuan/mt, and terbium oxide prices adjusted to around 6.75-6.8 million yuan/mt.

Supply and demand: Yesterday, Pr-Nd oxide prices continued to be weak, market purchasing enthusiasm was not high, and some industry players are more pessimistic about the future market; terbium oxide prices stabilized and rebounded yesterday, but the fluctuation range was relatively small.

Rare earth metals

Prices: Pr-Nd alloy mainstream quotation range is 500,000-505,000 yuan/mt, dysprosium-iron alloy prices are around 1.6-1.61 million yuan/mt, and terbium metal prices are around 8.45-8.55 million yuan/mt.

Supply and demand: In the metal sector, Pr-Nd alloy prices continue to decline rapidly, but magnetic material enterprises' purchase willingness remains low, poor downstream order-taking keeps metal market inquiry activity low, and some suppliers actively sell at low prices.

NdFeB blank

Prices: NdFeB blank N38 (Ce) reported 133-143 yuan/kg; NdFeB blank 40M prices reported 179-189 yuan/kg; NdFeB blank 40H prices reported 183-193 yuan/kg; NdFeB blank 45SH (ce) prices reported 233-253 yuan/kg.

Supply and demand: Yesterday, affected by the continuous decline in Pr-Nd alloy prices, some downstream magnetic material plants actively reduced blank prices to consume high-level inventory and reduce losses. Most magnetic material plants still adopt a strategy of purchasing as needed, mainly consuming inventory, and observing the next market trend.

NdFeB scrap

Prices: Pr-Nd recycled from NdFeB scrap reported 418-429 yuan/kg; dysprosium recycled from NdFeB scrap reported 1,617-1,639 yuan/kg; terbium recycled from NdFeB scrap reported 5,180-5,380 yuan/kg.

Supply and demand: Yesterday, NdFeB scrap prices did not change significantly, scrap market prices remained low, market willingness to sell was weak, and due to the continuous decline in downstream oxide prices, overall market trading was poor, with a strong market sentiment of wait-and-see.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Jun 12, 2026 09:16

US House Passes Bill to Strengthen Energy Security and Supply Chain Resilience

Recently, the U.S. House of Representatives passed the H.R.7037 bill, known as the Developing Overseas Mineral Investments and New Allied Networks for Critical Energies Act (DOMINANCE ACT, referred to as the "Domination Act"). The bill was jointly introduced by California Representatives Ami Bera and Young Kim, aiming to strengthen U.S. energy security and build a more resilient supply chain with trusted allies and partners.

Jun 12, 2026 09:16

Jun 12, 2026 09:13

Aldoro Resources Reports Promising Results from Kameelburg Niobium and Rare Earth Deposit Testing

Aldoro Resources reported that hydrometallurgical testing of the Kameelburg niobium and rare earth deposit in Namibia yielded encouraging results, with a simple process but relatively high recoveries of rare earths and strontium, while drilling also intersected high-grade niobium ore. Tests commissioned by the company and conducted by ALS Metallurgy Services in Western Australia showed that Kameelburg can be treated using a direct acid leaching method, eliminating the need for flotation or magnetic separation processes used at MP Materials' Mountain Pass operation in the US and Lynas Rare Earth's Mt Weld rare earth mine in Western Australia. The hydrochloric acid leaching process can be carried out at ambient temperature and pressure, and if scaled up, is expected to significantly reduce development costs.

Jun 12, 2026 09:13

Jun 12, 2026 09:12

Pensana Advances $250M Rare Earth Mine in Angola, Targets 2027 Production

According to overseas media reports, London-listed Pensana announced that construction of the Longonjo rare earth mine in Angola is progressing as planned, with a total investment of $250 million, targeting first commissioning and production of mixed rare earth carbonate (MREC) in 2027. The mine has a life of 20 years, with initial annual production of 20,000 mt of mixed rare earth carbonate, expanding to 40,000 mt in the fourth year. $36 million has been invested in the development of the mine and beneficiation plant, and main construction works are 22% complete. Manufacturing of long-lead equipment is progressing well, with committed procurement capital expenditure of approximately $135 million. The company is optimizing the heavy rare earth recovery circuit, targeting over 122 mt per year of dysprosium and terbium, positioning Longonjo as one of the largest heavy rare earth producers in the Western world. The modular separation facility can be expanded with mine expansion and includes a metallization circuit. Pensana has signed a non-binding memorandum of understanding with Toyota Tsusho for the offtake of up to 20,000 mt per year of mixed rare earth carbonate from Longonjo for a five-year term. The company has established a multi-partner offtake framework covering Japan's Toyota Tsusho, US-based ReElement Technologies, and US/Germany-based VAC/eVAC Magnetics. The project has received a $165 million strategic investment from Cascade Natural Resources and debt financing from ABSA, with political and commercial risk insurance provided by the US Export-Import Bank.

Jun 12, 2026 09:12