Summary: China’s rare-earth market showed mixed direction in the latest weekly review: Pr-Nd oxide remained firm at elevated levels, dysprosium and terbium softened, and NdFeB blank prices were broadly stable amid cautious purchasing and modest transaction activity.
Pr-Nd firmness meets cautious buying
Shanghai Metals Market reported on October 15 that praseodymium-neodymium oxide was quoted around RMB 743,000–745,000 per metric ton. Suppliers continued to defend offers, while metal producers were cautious and buying was mainly linked to immediate production needs.
This combination can keep quoted prices firm even when transaction momentum is limited. For magnet manufacturers, it reinforces the need to separate supplier offers from confirmed deal levels and to align purchases with actual order visibility.
Heavy rare earths moved in different directions
The same review placed dysprosium oxide around RMB 1.40–1.42 million per metric ton and terbium oxide around RMB 6.36–6.40 million per metric ton. Both markets were described as weaker, although the pace of decline was slowing. Gadolinium was comparatively stable, while holmium and erbium recorded firmer movement.
That divergence matters because heavy rare earths are not interchangeable. Dysprosium and terbium may be used to support high-temperature coercivity in selected NdFeB grades, while other elements have different technical and commercial roles. A broad “rare-earth price” label can therefore obscure the cost exposure of a specific magnet specification.
NdFeB blanks remain broadly stable
Reported prices for common NdFeB blanks were largely unchanged during the week. SMM cited ranges including RMB 251–271 per kilogram for 38M and RMB 263–273 per kilogram for 40H. Transaction volume in the magnet market was described as mediocre, with limited growth in downstream demand and relatively few spot orders.
For B2B buyers, stable blank prices do not remove purchasing risk. Material mix, coating, tolerances, magnetization, inspection requirements and order volume can all affect a finished magnet quotation. Buyers should compare like-for-like specifications, document the quotation validity period and ask suppliers which raw-material indices are relevant to the selected grade.
The latest data suggest a market that is firm in some upstream inputs but still disciplined on the demand side. That is a useful environment for structured sourcing discussions, but it does not by itself establish a sustained price trend.