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Commodity Market Report

Global rare earths short-term outlook January 2023

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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.

Table of contents

  • 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
  • China rare earth group secures funds to acquire Minmetals critical mining asset

Tables and charts

This report includes 18 images and tables including:

  • Historical lanthanum and cerium oxide prices
  • Forecast lanthanum and cerium oxide prices
  • Neodymium, praseodymium and Nd-Pr oxide prices
  • Forecast neodymium, praseodymium and Nd-Pr oxide prices
  • Samarium, europium and gadolinium oxide prices
  • Forecast samarium, europium and gadolinium oxide prices
  • Terbium and dysprosium oxide prices
  • Forecast terbium and dysprosium oxide prices
  • Holmium, erbium1, ytterbium, yttrium and lutetium oxide prices
  • Forecast ytterbium, erbium and yttrium oxide prices
  • Forecast holmium and lutetium oxide prices
  • Rare earth demand by application
  • Rare earth demand by element
  • Global mined supply by region
  • Global refined and recycled supply
  • Chinese exports of rare earth products
  • Imports of RE compounds (US, Japan and EU27)
  • Imports of RE metal (US, Japan, EU27)

What's included

This report contains:

  • Document

    Global rare earths short-term outlook January 2023

    PDF 1.08 MB