Rare Earth market Update - May 9, 2025

Rare earth market update on May 9, 2025

In the first week following the May Day holiday, the domestic rare earth market in China performed relatively well, with rising prices for numerous products, increased market trading activity, and higher transaction volumes.

Positive factors include: first, the implementation of China's export controls on medium and heavy rare earths has led to a contraction in overseas rare earth supply, driving up international prices and creating a favorable spillover effect that has boosted domestic market enthusiasm; second, the rapid development of industries such as low-altitude economy, military, robotics, and new energy vehicles, which have significant demand for rare earth functional materials, is a key driver of rising raw material prices; third, a notable price decline in mainstream rare earth products before the holiday has created substantial room for post-holiday price increases, further amplified by increased downstream inquiries, prompting suppliers to raise quotes. On the negative side, downstream demand has not fully recovered, with actual demand growth still lagging behind expectations.

According to CTIA GROUP LTD, post-holiday price changes include: praseodymium-neodymium oxide up approximately 9,000 yuan/ton, a 2.20% increase; praseodymium-neodymium metal up about 13,000 yuan/ton, a 2.59% rise; terbium oxide up around 160 yuan/kg, a 2.36% increase; dysprosium oxide up approximately 10,000 yuan/ton, a 0.62% rise; 55N NdFeB blanks up about 2 yuan/kg, a 0.99% increase; and NdFeB scrap praseodymium-neodymium up around 5 yuan/kg, a 1.15% rise.

According to the Baotou City Statistics Bureau, in Q1 2025, Baotou's crystalline silicon photovoltaic, steel, aluminum, and rare earth industries saw added value growth of 12.1%, 3.0%, 6.8%, and 10.6% year-on-year, respectively, collectively driving a 5.8 percentage point increase in added value for industrial enterprises above the designated size. Additionally, the onshore wind power equipment industry's added value grew by 59.8%, exceeding the industrial average by 46.8 percentage points.

Price of rare earth products on May 9, 2025

Neodymium oxide picture

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