Commodity Market Report
Global rare earths short-term outlook November 2022
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Rare earth prices continued their recent downturn at the beginning of November, falling further as weaker-than-expected purchasing activity lowered key magnet rare earth prices. Towards the end of the month, however, orders picked up and prices responded positively. Wood Mackenzie expects key magnet rare earth prices to rally towards the end of the year and into Q1 2023, ahead of the lunar new year holiday closures within China. Global economic uncertainty and widespread Covid-19 outbreaks within China continue to impact market sentiment. Despite this, demand for key magnet applications, remains strong, driving an average annual increase in rare earth demand of 5.2% to 2026. In order to increase diversity and security of supply, many ROW developers continue to advance their projects , securing offtake agreements and funding solutions. However, planned expansions and commissioning of new supply within China will help maintain the country’s market share in the short term.
Table of contents
- Lanthanum and cerium oxide
- Neodymium, praseodymium and Nd-Pr oxide
- Samarium, europium and gadolinium oxide
- Terbium and dysprosium oxide
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Other heavy rare earth oxides
- Changes to GDP and macroeconomic drivers
- Covid outbreaks weaken market sentiment in China
- Baotou Steel and CNRE pricing development
- REEtec looks to expand its European supply chain for rare earths
- Lynas announces quarterly results and extends agreement with Japan Australia Rare Earths BV (JARE)
- Arafura signs Nd-Pr offtake agreement with Hyundai and Kia
- Neo Performance Materials (Neo) receives the European Just Transition fund grant
- CREG signs strategic cooperation with Guangsheng
- 2 more item(s)...
Tables and charts
This report includes the following images and tables:
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Historical lanthanum and cerium oxide pricesForecast lanthanum and cerium oxide pricesHistorical neodymium, praseodymium and Nd-Pr oxide prices
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Forecast neodymium, praseodymium and Nd-Pr oxide pricesHistorical samarium, europium and gadolinium oxide pricesForecast samarium, europium and gadolinium oxide pricesHistorical terbium and dysprosium oxide pricesForecast terbium and dysprosium oxide pricesHistorical holmium, erbium, ytterbium, yttrium and lutetium oxide pricesForecast ytterbium, erbium, and yttrium oxide pricesForecast holmium and lutetium oxide pricesRare earth demand by application
- 6 more item(s)...
What's included
This report contains:
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