Rare Earth Market Update - April 7, 2025

Rare earth market update on April 7, 2025

At the beginning of the week, domestic rare earth prices in China exhibited a mixed pattern of gains and losses.

Specifically, neodymium oxide and dysprosium oxide prices rose by approximately 2,000 RBM and 20,000 RBM, respectively, while praseodymium-neodymium oxide and praseodymium-neodymium metal prices each dropped by about 1,000 CNY. On the supply side, rare earth manufacturers maintained normal production levels, but limited imports of rare earth ores from Myanmar constrained the growth of spot market supply. On the demand side, magnetic material companies and other downstream users predominantly sustained rigid demand, resulting in low transaction volumes.

On April 4, 2025, China’s Ministry of Commerce, in collaboration with the General Administration of Customs, announced export control measures targeting seven medium and heavy rare earth elements—samarium (Sm), gadolinium (Gd), terbium (Tb), dysprosium (Dy), lutetium (Lu), scandium (Sc), and yttrium (Y)—effective immediately. According to Huatai Securities, these controls primarily affect samarium-cobalt permanent magnets (used mainly in military applications) and neodymium-iron-boron (NdFeB) permanent magnets containing dysprosium and terbium. In 2024, China’s NdFeB exports accounted for roughly 20% of its total production, though this figure includes NdFeB magnets without medium or heavy rare earths. Since the policy involves export controls rather than a ban—allowing exports upon approval—the real-world impact is expected to be less severe than theoretical estimates.

Price of rare earth products on April 7, 2025

Praseodymium oxide picture

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