[SMM Rare Earth Weekly Review: Pr-Nd Oxide Prices Pull Back Slightly, Rare Earth Market Overall in the Doldrums] This week, Pr-Nd oxide prices were slightly in the doldrums overall, mainly dragged down by the pullback in futures prices and persistently low purchase willingness from buyers, with some suppliers following suit to lower prices. However, factory quotations remained firm, with low-priced goods hard to find, and a fierce tug-of-war between upstream and downstream. As of today, Pr-Nd oxide prices have been adjusted down to 753,000-758,000 yuan/mt.

[Oxides weaken slightly while medium-heavy rare earths stay firm; scrap circulation tightens, leading to a trading stalemate] Yesterday, NdFeB blank quotes temporarily held steady. The core reason was that stable raw material prices supported the stability of blank quotes. Regarding trading, as the off-season sets in, the production pace of end-users and motor factories is gradually slowing down. The release of rigid demand orders was moderate, while large-scale restocking orders have yet to be effectively released, resulting in a generally lukewarm overall NdFeB market trading volume.

[Oxide downtrend drags metals lower, medium-heavy rare earths firm but transactions stagnant] Last week, nearing the weekend, downstream enterprises’ inquiry activity was low; some traders slightly lowered their quotes, but most factories held firm offers, resulting in few actual transactions; on the medium-heavy rare earth front, upstream supply was tight, market quotes remained firm, but metal plants’ purchase willingness was low.

[Rare Earth Market Trading Stagnant but Cost Support Persists, Oxides Diverge, Scrap Follows Limited Gains] Yesterday, NdFeB blank quotes remained stable for now. The core reason was that raw material prices remained stable, keeping NdFeB quotes steady. In terms of trading, as the off-season set in, end-users and motor factories gradually slowed their production pace, orders for essential needs were released at a moderate level, and large-scale restocking orders had yet to be effectively released. Overall trading volumes in the NdFeB market were moderate.

[SMM Rare Earth Weekly Review: Pr-Nd oxide consolidates with an upward trend, medium-heavy rare earth quotes generally raised, permanent magnet demand under pressure in off-season] Mid-week, as the price fluctuations of Pr-Nd oxide were relatively small, recycling enterprises did not significantly adjust their external purchase quotations, and the scrap market remained generally stable. Towards the weekend, driven by the rise in Pr-Nd oxide prices, Pr-Nd scrap prices were slightly raised to 785 yuan/kg, but suppliers remained cautious in selling. Dysprosium and terbium scrap prices ran steadily throughout the week, with relatively small fluctuations.

[Pr-Nd Oxide Quotes Remain Firm, Dysprosium-Iron Alloy Raised Slightly, End-Use Demand Stays in Off-Season Mode] Yesterday, Pr-Nd alloy prices pulled back slightly, market trading atmosphere was sluggish, and quotes from metal plants diverged: Quotes from large plants remained firm, while small plants actively sold at lower prices, but overall transactions were limited. For medium-heavy rare earths, terbium metal prices held steady, low-priced supplies in the dysprosium-iron alloy market tightened, and quotes were raised slightly.