Last week, the inquiry situation in the rare earth oxide market was generally sluggish, and rare earth oxide prices were weak. Due to insufficient orders in the magnetic material market, downstream magnetic material enterprises mainly conducted just-in-time procurement, limiting the actual trading volume of rare earth metals. Nevertheless, as metal plants faced losses, their quotations remained firm. With the stockpiling season before the Chinese New Year in December approaching, rare earth downstream demand is expected to pick up.
SMM forecasts that with gradually increasing demand support, rare earth prices may be relatively stable with strong trend.
