[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.

[Ore Prices Follow Oxide Gains, Magnetic Material Market Sees Average Trading] Yesterday, Pr-Nd oxide market prices pulled back slightly following futures, but most suppliers held offer prices firm and low-priced supply remained hard to find. In the medium-heavy rare earth segment, dysprosium and terbium market prices continued to mainly hold up well, with some buyers making small purchases.

[Oxide Prices Diverge, Metal Trading Stalemate, Off-Season Magnetic Material Demand Slows] Yesterday, NdFeB blank quotations edged down slightly, mainly because lower raw material prices dragged down blank prices. In terms of trading, as the off-season set in, the production pace of end-users and motor factories gradually slowed, rigid demand orders were released moderately, while large-scale restocking orders have not yet been effectively released. Overall trading volume in the NdFeB market was modest.

[Light Rare Earth Under Pressure and Pulling Back, Medium-Heavy Rare Earth Firm, Magnetic Material Scrap in the Doldrums] Yesterday, Pr-Nd alloy prices pulled back slightly, affected by sluggish market inquiries, compounded by raw material price pullbacks. Although metal plants slightly lowered their offers, actual trading remained stagnant. In the medium-heavy rare earth segment, terbium metal prices continued to rise, supported by oxide costs, while dysprosium-iron alloy prices held steady.

[Under Oxide Cost Support, Metal Prices Remain Firm; NdFeB Off-Season Dominated by Just-in-Time Procurement] Last week, NdFeB blank quotations were slightly raised. The core reason was that the increase in raw material prices drove up NdFeB prices. In terms of trading, entering the off-season, the production pace of end-users and motor factories gradually slowed down, just-in-time procurement orders were released moderately, while large-scale restocking orders have not been effectively released yet. Overall, the NdFeB market trading volume was moderate.