The overall rare-earth market remained flat or weakened in late March~early April. The purchasing managers' index (PMI) for the manufacturing industry in the US, Europe, China, and other countries in March was not satisfactory, and thus there were deep-rooted concerns about a slowdown in the global economy. Financial instability, such as the Credit Suisse crisis, also weighed on the market, and investors continued to hold off on purchasing due to concerns about a slowdown in demand for products in the future.

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