Commodity Market Report
Global rare earths short-term outlook November 2022
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
-
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
- Ningbo Yunsheng invests in rare earth project in Nkombwa, Zambia
- HyProMag awarded a grant for a German recycling facility
Tables and charts
This report includes 18 images and tables including:
- Historical lanthanum and cerium oxide prices
- Forecast lanthanum and cerium oxide prices
- Historical neodymium, praseodymium and Nd-Pr oxide prices
- Forecast neodymium, praseodymium and Nd-Pr oxide prices
- Historical samarium, europium and gadolinium oxide prices
- Forecast samarium, europium and gadolinium oxide prices
- Historical terbium and dysprosium oxide prices
- Forecast terbium and dysprosium oxide prices
- Historical holmium, erbium, 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 and EU27)
What's included
This report contains:
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