Global rare earths short-term outlook April 2023 Report

Commodity Market Report 02 May 2023

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Report summary

Prices for most rare earth compounds continued to fall in April, following weaker than expected demand from magnet manufacturers accelerating destocking activities. Persistent uncertainty from the economic situation within China and weakened consumer confidence has dented market sentiment. Supply side pressure has also been relieved with the increased production quota for H1 2023 and the resumption of trade from Myanmar. The ROW pipeline of developing projects at the mined and refined stage continues to expand as governments around the world look to improve supply chain security. However, developments in Myanmar could disrupt future heavy rare earth supplies and Lynas could be facing short-term disruption to refined production. Wood Mackenzie expects global mined supply to become increasingly diversified over the coming years; however, significant investment in downstream portions of the supply chain are required to achieve total security.

Lanthanum and cerium oxide
Neodymium, praseodymium and Nd-Pr oxide
Samarium, europium and gadolinium oxide
Terbium and dysprosium oxide
Other heavy rare earth oxides
Automotive industry experiences rocky start to 2023
Ongoing economic uncertainty within China
New uncertainty surrounding rare earth supply from Myanmar
Lynas quarterly update highlights challenges ahead
Arafura Resources signs offtake agreement with Siemens Gamesa
CREG strengthens LREE production capabilities with acquisition of Dalucao operation
Peak Rare Earths signs framework agreement for Ngualla project
Vital Metals stalls construction of Saskatoon refining facility