Summary: Pr-Nd and terbium prices stopped falling in SMM’s September 18 morning assessment, while dysprosium remained stable and magnetic-material buyers continued to purchase cautiously. The snapshot suggests stabilization, not a broad demand recovery.
Key rare-earth inputs paused their decline
Shanghai Metals Market reported on September 18 that praseodymium-neodymium oxide quotations stopped declining, dysprosium oxide was steady and terbium oxide shifted from falling to stable. The market remained quiet, with buyers comparing offers and firm orders concentrated near the lower end of quoted ranges.
SMM also described a slight recovery in Southeast Asian ion-adsorption rare-earth ore supply, but said oxide prices and ore transactions remained in a broad stalemate. This combination can reduce immediate downward pressure without creating a strong upward trend.
Magnetic-material activity remained moderate
Magnetic-material producers were still cautious about purchasing. According to the assessment, low-priced material attracted most interest, while actual transactions remained limited. Magnet scrap participants also stayed on the sidelines rather than signaling a clear change in demand.
For NdFeB manufacturers, this is a reminder that stable upstream quotations do not automatically mean stable finished-magnet prices. A custom magnet quotation also depends on alloy grade, heavy rare-earth content, shape, machining loss, coating, magnetization, inspection and order quantity.
How buyers can use this market signal
Procurement teams should treat the morning assessment as a short-term market indicator. Useful follow-up questions for a supplier include:
- how long the quoted price remains valid;
- whether dysprosium or terbium exposure is included in the selected grade;
- what quantity and delivery schedule the quotation assumes;
- whether scrap recovery or machining yield materially affects cost; and
- which changes would trigger a price review.
Stability is not yet a rebound
The clearest conclusion is that several key materials stopped weakening while transaction activity remained limited. Buyers should avoid interpreting one morning update as a durable trend and should compare it with later daily assessments, supplier quotations and their own qualified-demand schedule.
Source: Shanghai Metals Market, September 18, 2026 at 09:51.