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  Soaring Raw Material Prices Put Magnetic Material and Motor Makers in a Dilemma [SMM Analysis]

  "The market has gone absolutely crazy." That's the shared sentiment among many executives at magnetic material and motor plants. As of February 9, 2026, the price of praseodymium-neodymium (Pr-Nd) metal has reached 975,000 - 985,000 yuan per ton, marking a single-day surge of 7%. This represents a 9.4% increase compared to last week​ and a staggering over 88% jump compared to the same period last year​

• [SMM Comment] Tungsten Surges 50%: APT Hits 1-Million Threshold; What’s Next for the Market?

• MMi Daily Iron Ore Report (February 9)

  Today, the DCE iron ore market trended weaker. The benchmark contract, I2605, closed at 761.5 RMB/tonne, down 0.46% from the previous trading session. Spot prices in the physical market fell by 1–3 RMB/tonne compared to the prior day.

• The market has entered a semi-holiday mode, with iron ore prices continuing to be in the doldrums [SMM Brief Review].

• [Domestic Iron Ore Brief Review] Iron Ore Concentrate Prices in Shandong Region May Remain in the Doldrums

  [Domestic Iron Ore Brief: Shandong Region Iron Ore Concentrates Prices May Remain in the Doldrums] This week, Shandong region mines and beneficiation plants offered 64-grade alkaline powder dry basis pre-tax acceptance ex-mine price at 851, down 17. Steel mills synchronized price cuts, while miners mostly maintained normal production. Inventory saw a slight accumulation. Steel mills have largely completed stockpiling, maintaining routine procurement. Coupled with the approaching Chinese New Year, overall market transactions remained relatively sluggish. Additionally, recent iron ore futures...