Summary: PrNd oxide and alloy quotations stabilized during the afternoon of October 26 after an earlier pullback, but tentative inquiries produced few firm deals. Gadolinium products remained weak, giving magnet buyers a current snapshot of cautious purchasing rather than a confirmed price floor.
PrNd offers stabilized but transactions stayed limited
Shanghai Metals Market reported that PrNd oxide prices held at their morning level during the afternoon session on October 26. Suppliers showed limited willingness to quote actively after the earlier decline, while metal plants made inquiries without converting many of them into firm orders.
PrNd alloy offers also remained stable in the afternoon. SMM said lower cost support left limited room for further concessions, but downstream users continued to test the market and actual order volume was low.
Gadolinium products showed a different pattern
Gadolinium oxide continued to move lower as sellers reduced offers. Buyers purchased only as needed, and transactions lacked follow-through. Gadolinium-iron alloy quotations were steady in the afternoon, but trading remained slow and buyers largely stayed on the sidelines.
This divergence matters because individual rare-earth inputs do not always move together. A magnet quotation can reflect PrNd, dysprosium, terbium, gadolinium, processing yield, alloy conversion, machining, coating, and the supplier’s inventory position. Buyers should not treat one product’s movement as a complete index for every magnet grade.
Stable afternoon pricing does not prove a market bottom
The SMM report is an intraday market snapshot. Stable offers after a morning decline may mean sellers are resisting further cuts, but few completed transactions make the signal less conclusive. A firm price floor normally requires stronger deal volume, repeat orders, or improved downstream demand.
For NdFeB manufacturers, weak raw-material trading can reduce immediate cost pressure while creating uncertainty about inventory timing. Buying too early may leave material exposed to further declines; waiting too long can create delivery risk if downstream orders return quickly.
Practical procurement checks
- Ask suppliers which material-price date and source support the quotation.
- Compare offer changes with confirmed transaction evidence, not inquiry volume alone.
- Separate light rare-earth and medium-heavy rare-earth cost drivers by magnet grade.
- Review on-hand alloy and finished-magnet inventory before changing purchasing cadence.
- Use quotation-validity periods and staged releases for volatile raw-material markets.
The October 26 session shows a market still searching for direction: PrNd prices paused after a pullback, while gadolinium remained under pressure and orders were sparse. Buyers should continue to verify real transactions and downstream order flow before changing long-term sourcing assumptions.