Influenced by multiple factors, as of 5:00 PM today, the spot price of Pr-Nd oxide was quoted at 765,000-770,000 yuan/mt, up approximately 5,000 yuan/mt from the 11:00 AM quote. The spot price of Pr-Nd alloy was quoted at 930,000-940,000 yuan/mt, up 10,000 yuan/mt from the morning quote. According to SMM, some transactions were concluded in the Pr-Nd oxide market at current prices. However, the magnetic material sector showed low acceptance of the 930,000-940,000 yuan/mt alloy price, and no transaction information had been obtained for the time being.

[SMM Rare Earth News Flash] Affected by multiple factors, as of 12:00 PM today, Pr-Nd oxide spot prices were quoted at 760,000-765,000 yuan/mt, up approximately 5,000 yuan/mt WoW, and Pr-Nd alloy spot prices were quoted at 920,000-930,000 yuan/mt, up 5,000 yuan/mt WoW. According to an SMM survey, raw material prices have stabilized recently, and the magnetic material sector has shown growing acceptance of Pr-Nd alloy prices at 915,000-920,000 yuan/mt, beginning to steadily purchase as needed.

[SMM Rare Earth Price Update] As of now, Pr-Nd oxide was quoted at 765,000-770,000 yuan/mt, up 15,000 yuan/mt MoM, and Pr-Nd alloy was quoted at 915,000-935,000 yuan/mt, up 15,000 yuan/mt MoM. However, the price at which magnetic material enterprises inquired about Pr-Nd alloy was relatively lower with a wider spread, at 900,000-915,000 yuan/mt. Low-priced alloy supplies in the market were limited, downstream buyers adopted a wait-and-see attitude, and actual market transactions remained stagnant.

[SMM Rare Earth Price Flash] As of now, driven by the rise in futures prices, neodymium praseodymium oxide has seen small-volume transactions by some traders at 730,000-740,000 yuan/mt. Driven by rising raw material prices, coupled with tender procurement of Pr-Nd alloy by major magnetic material plants, metal quotations were also raised to 900,000 yuan/mt, with actual transactions following up. The latest market quotation for gadolinium oxide was 230,000 yuan/mt, and quotations for gadolinium iron were also raised to 215,000-220,000 yuan/mt, driven by downstream tender procurement.

[SMM Rare Earth Weekly Review: Rare Earth Prices Hold Up Well, and Market Inquiry Activity Increases] The Pr-Nd oxide market as a whole continued to hold up well. Under the impact of expectations of tighter supply and pronounced fluctuations in futures prices, upstream suppliers kept raising their offers, while low-priced cargoes tightened rapidly, pushing Pr-Nd oxide prices up to 722,000-728,000 yuan/mt.

BAIC Industrial Investment Management Co., Ltd. announced the completion of a strategic investment in Jiangxi Aite Magnetic Material Co., Ltd., aiming to support its R&D innovation and market expansion in the field of soft magnetic powder cores. Founded in 2014, Aite Magnetic Material focuses on soft magnetic powder core products such as Sendust, iron-silicon, iron-based amorphous, and nanocrystalline materials, and holds an important position in the magnetic materials sector.

BAIC Industrial Investment Management Co., Ltd. announced the completion of a strategic investment in Jiangxi Aite Magnetic Material Co., Ltd., aiming to support its R&D innovation and market expansion in the field of soft magnetic powder cores. Founded in 2014, Aite Magnetic Material focuses on soft magnetic powder core products such as iron-silicon-aluminum, iron-silicon, iron-based amorphous, and nanocrystalline materials, and holds an important position in the magnetic materials sector. As a professional investment platform under BAIC Group, BAIC Industrial Investment's move into the magnetic materials field will help Aite Magnetic Material enhance its technology R&D capabilities, expand its market share, and promote technological innovation and industrial upgrading in the automotive industry and related sectors.

China Northern Rare Earth (600111) consecutively issued two investment announcements, simultaneously advancing two major projects—10kt of rare earth metal alloys and 10kt of cerium-containing NdFeB magnetic materials—through a model featuring one controlling stake, one equity participation, and upstream-downstream coordination, so as to accelerate the development of the “two rare earth bases” and the upgrading of the entire industry chain. Both of the above investment proposals were unanimously approved by the company’s board of directors, and China Northern Rare Earth’s total investment in the two projects amounted to approximately 228 million yuan.

This week, the domestic praseodymium-neodymium oxide market experienced narrow fluctuations, with prices remaining relatively stable overall while market sentiment saw minor shifts. Early in the week, firm pricing intentions from upstream separation plants and just-in-time procurement from large enterprises helped improve trading sentiment temporarily, prompting sellers to test higher offers and pushing prices slightly upward. However, persistent weakness in end-user demand and limited new orders from downstream magnetic material companies led to a generally pessimistic outlook on near-term consumption. As a result, downstream metal producers showed little enthusiasm for procurement, with price acceptance clearly constrained. When offers exceeded 720,000 RMB/ton, buying interest dropped significantly, and actual transactions faced resistance. Without sufficient momentum, prices eventually retreated to around 710,000 RMB/ton, forming a pattern of initial gains followed by a pullback. From a supply-demand perspective, some upstream separation plants are currently undergoing temporary suspensions or production cuts due to environmental inspections or maintenance, leading to a certain degree of supply contraction that provides underlying support for prices. Meanwhile, downstream demand remains weak, with no notable improvement in end-user consumption, leaving the market without strong positive catalysts. Overall, the market is characterized by weakness on both the supply and demand sides, with intense game-playing between upstream and downstream participants. Sellers show limited willingness to concede on prices, while buyers maintain a cautious wait-and-see approach, with actual transactions primarily driven by essential needs. In the short term, the praseodymium-neodymium oxide market is expected to continue in this stalemate, with ongoing tussling between the two sides and prices likely to move within a narrow range, with limited room for significant upward or downward movement.

Concluding our series, we shift focus to 2026's emerging NdFeB growth drivers: robotics, low-altitude economy, and electric two-wheelers. While viewed as the "second growth curve," we analyze their actual demand support amidst current macro and industry cycles to determine if they can offset traditional sector slowdowns.