Global rare earths short-term outlook January 2023 Report

Commodity Market Report 31 January 2023

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Report summary

Prices for key magnet rare earths, namely neodymium, praseodymium, dysprosium and terbium continued their upward trajectory, increasing by an average of 5.1% month-on-month in January. Increased purchasing activity ahead of the Spring Festival closures facilitated this increase. Despite the removal of subsidies on new electric vehicle purchases within China, we expect demand to remain strong, driving prices higher in Q1 2023. To address geopolitical concerns, governments around the world are looking to establish diverse and secure supply chains. Some ROW developers have enjoyed recent success in raising finance to aid project development; however, the downstream portion of the supply chain remains significantly under-developed, preventing total supply chain 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
Impact of Covid-19 restriction removal on demand in China
Impact of electrified transport incentives ending in China
Myanmar feedstock remains critical to heavy rare earth production in China
Investment in developing mining and refining projects increases but challenges downstream remain
Vital Metals updates development strategy
LKAB outlines details of Per Geijer rare earth deposit
China Rare Earth Group acquires Jiangxi Copper Rare Earth
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