[Pr-Nd Oxide Quotations Stall, Low-Price Shipments Persist; Metal Follows Decline, Transactions in Stalemate; Magnetic Material Orders Recover with Work Resumption] Last week, affected by fluctuations in futures prices, bearish sentiment spread in the market. The wait-and-see sentiment among downstream metal plants further intensified. Most upstream suppliers stopped quoting, but some traders indicated they could continue low-price shipments. In the medium-heavy rare earth market, dysprosium oxide and terbium oxide saw relatively small changes, with prices temporarily relatively stable.

[Pr-Nd Oxide Offers Firm, Low-Priced Supplies Tighten; Metals Stable but Transactions Weak; Medium-Heavy Rare Earths Slightly Follow Decline] Yesterday, driven by news-related factors, suppliers’ Pr-Nd oxide offers were overall relatively firm, and low-priced supplies tightened further, but most metal plants remained heavy with a wait-and-see sentiment, and their purchase willingness remained poor as orders had yet to see substantial improvement. For medium-heavy rare earths, downstream demand remained sluggish, some traders sold at low prices, and their actual transaction price center edged down slightly.

[SMM Rare Earth Weekly Review: Off-Season Demand and Weakening Raw Materials Lead to Sluggish Trading and Broad Price Corrections] This week, Pr-Nd oxide prices declined further. Affected by continued weak downstream orders and fluctuations in futures, trading in the Pr-Nd oxide market was sluggish. Some traders lost confidence in the market outlook and actively sold at low prices. Driven by the "rush to buy amid continuous price rise and hold back amid price downturn" sentiment, the market's wait-and-see sentiment intensified. As of today, Pr-Nd oxide prices dropped to 735,000-737,000 yuan/mt.

[Pr-Nd oxide continued to weaken, large factories’ evening purchases boosted confidence, medium-heavy rare earth followed the decline.] Yesterday, affected by wild swings in futures prices, most market participants had a strong wait-and-see sentiment. Factories were reluctant to sell and purchase, and some traders continued to sell small quantities at low prices. However, large factories’ purchases in the evening boosted some market confidence, and low-priced supply tightened again. In the medium-heavy rare earth market, prices of dysprosium oxide and terbium oxide also edged down with the market, but most factories kept their offers firm, and the decline was relatively small.

[Pr-Nd Oxide Continues to Decline, Dragging Metals Down, Magnetic Material Scrap Waits and Sees, Medium-Heavy Rare Earths Stable] Yesterday, some traders continued to sell at low prices, but metal plants' purchase willingness remained poor. Pr-Nd oxide prices further dropped, market confidence was unstable, and downstream inquiries and trading continued to be sluggish. For medium-heavy rare earths, downstream purchasing enthusiasm for dysprosium oxide and terbium oxide markets remained relatively low, plant quotations remained firm, and prices fluctuated relatively little for the time being.

[Stagnant Oxides Drag Down Ore Price Center, Metals See Slight Correction, Magnetic Material Scrap Wait-and-See Continues] Currently, the overall circulation frequency of rare earth ore remains poor, market trading is stagnant, and weak oxide prices have caused the center of actual transaction prices for rare earth ore to shift downward.