[Pr-Nd prices remain stable, while tight terbium-holmium supply supports medium-heavy rare earth strength] Yesterday, the scrap market prices were stable. Affected by the relatively small fluctuations in oxide quotations, recycling enterprises' external purchase offer prices did not show significant fluctuations, with just-in-time procurement dominating, and actual market transactions were moderate.

[Pr-Nd prices continued to rise, and terbium and holmium supply tightening drove medium-heavy rare earth to strengthen] Yesterday, scrap market prices continued to rise. Affected by the continuous increase in oxide offer prices, recycling enterprises raised their external procurement quotes accordingly. However, suppliers were rather wait-and-see about selling, and recycling enterprises maintained just-in-time procurement, resulting in limited actual transactions.

[Pr-Nd prices steady, terbium price strengthens, driving up medium-heavy rare earth activity] Yesterday, scrap market prices edged up slightly. Influenced by a slight recovery in oxide offers, recycling enterprises’ external purchase quotes rose in tandem, while suppliers’ shipment attitude remained wait-and-see, and overall market trading was moderate.

[SMM Rare Earth Morning Meeting Summary: Rare Earth Prices Jump Initially and Then Pull Back, Downstream Maintains Cautious Procurement] Yesterday, under the combined influence of fear of high prices and the willingness to sell from large manufacturers, the price of Pr-Nd oxide jumped initially and then pulled back. The willingness to sell among suppliers increased somewhat, but downstream buyers still maintained a strong wait-and-see sentiment, and market trading activity remained sluggish.