SMM, Oct 12: After the National Day holiday, China Northern Rare Earth raised Pr-Nd prices across the board, keeping rare earth material prices firm and the upstream market active. However, the downstream magnetic material market did not see a significant increase in orders, with end-use demand remaining weak, leading to low sentiment among downstream magnetic material companies and a strong wait-and-see atmosphere. The tug-of-war between upstream and downstream remains intense.
Under these circumstances, SMM forecasts that in the short term, rare earth prices will fluctuate rangebound.
