8 Moon 26 In the morning, the National Material Reserve Regulation Center (abbreviated as “ National Reserve Center ” ) and the four major rare earth groups ( Senior executives from Chinalco Rare Earth, Southern Rare Earth, Guangdong Rare Earth, and Xiamen Tungsten held informal talks and roughly agreed on the priority order for procurement and storage. 6 Heavy rare-earth oxide doping scheme; 8 Moon 31 On the morning of [date], the National Development and Reform Commission and the National Reserve Center held discussions with the Ministry of Finance regarding the disbursement and settlement of national reserve funds. Industry insiders said that this year, the state-level national rare earth reserves have essentially encountered no obstacles. Coupled with the fact that government departments are now holding themselves accountable for the management of these reserves, the national rare earth reserves are set to enter a fast-track phase. Optimistically speaking, the rare earth bidding conference will be held by [date]. 9 To be held in the first ten days of the month.

　　 “ As far as I know, the National Reserve Center has currently sent a notice to the Ministry of Finance. ‘ Payment Request Report ’ The national reserve of rare earths has already achieved seamless approval at the government level, and the payment cycle for the national reserve will be shortened to... 1 About a month or so. This year, the state’s rare-earth reserves will also be released in three batches, similar to the commercial reserves. At that time, the state reserves will settle payments in batches to encourage enterprises’ enthusiasm. ” A source in the industry said that the volume of this rare-earth tender remains unclear, and there are still disputes over the tender price. He noted that, on the one hand, businesses are calling for an additional increase above the current average market price. 10-15% For example, dysprosium oxide. 99.5% min The tender price will be raised to: 1,400 Yuan / around kilograms; on the other hand, the National Reserve Center will, in accordance with multiple platforms such as the Rare Earth Association and Asian Metal Network, 6 The average monthly price will be used as the basis for bidding and storage procurement, and the adjustment幅度 will primarily take into account costs such as payment cycles and storage/procurement operations.

　　Another source from the six major rare-earth groups confirmed the above-mentioned discrepancies in bidding prices. “ According to calculations, based on earlier data from Asian Metals and others... 6 Home platform or website in the past 6 The average price over the past few months is more likely to be used as the pricing basis. Therefore, the bid price for this tender will be higher than this year’s. 6 At the beginning of the month, the failed bid prices were still low. ” He stated, but at the same time emphasized that products such as yttrium, europium, erbium, and lutetium are more likely to be included in the procurement mix, while terbium, dysprosium, and praseodymium-neodymium still require further deliberation. He believes that this year, the national reserves will likely follow... “ Easy first, then difficult. ” Proceed with collection and storage according to the proposed approach.

　　Since this year 8 Moon 15 Since the Northern Rare Earth Group lowered prices for praseodymium and neodymium, market prices for products such as praseodymium-neodymium and dysprosium have continued to decline. Market participants’ sentiment has shifted from initial firmness and price increases to a more passive stance, with some industry insiders even turning bearish on the future market outlook. Asia Metals believes that, as we enter... 9 Since the summer holidays in Europe and the U.S. have gradually come to an end, the Chinese rare-earth market is expected to pick up again, driven by overseas demand. On the domestic market, although neodymium-iron-boron magnet materials have been weaker this year compared to last year due to reduced demand from the wind-power industry, the overall trend still shows signs of a gradual recovery. If China’s rare-earth storage initiatives—starting with easier projects and moving on to more challenging ones—can serve as successful demonstrations, market participants will regain confidence, and accordingly, prices of major rare-earth products will inevitably rebound.