Rare earth market update on April 21, 2026
The domestic light rare earth market continues to perform well, with the prices of praseodymium and neodymium continuing to rise. This is mainly due to the higher-than-expected price increase in northern rare earth concentrates in Q2, market expectations of a potential tightening in praseodymium and neodymium supply, and the rapid development of emerging industries. According to a research report by CITIC Securities, it is expected that from 2026 onward, the global rare earth supply-demand gap may continue to widen. The global supply-demand gap for praseodymium and neodymium oxide from 2025 to 2028 is projected to be -50,000 tons, -90,000 tons, -130,000 tons, and -210,000 tons, respectively. Rare earth prices are expected to steadily rise, with the price range for praseodymium and neodymium oxide likely to increase to RMB 600,000 to RMB 800,000 per ton.
In the medium and heavy rare earth market, the overall market remains weak and stable. Due to significant bargaining between buyers and sellers, there is little adjustment in the prices of mainstream products, and market activity is low, with limited new orders being released. Today, the prices of terbium oxide and dysprosium oxide are approximately RMB 6,100,000 per ton and RMB 1,380,000 per ton, respectively.
In terms of news, data from the General Administration of Customs shows that in the first quarter of 2026, China's rare earth imports totaled 32,077 tons, an increase of 30.0% year-on-year, with an import value of RMB 4.872 billion, an increase of 159.9% year-on-year. Rare earth exports totaled 14,579 tons, an increase of 2.8% year-on-year, with an export value of RMB 814 million, a decrease of 11.2% year-on-year. During the same period, the export volume of rare earths and their products totaled 33,029 tons, an increase of 4.2% year-on-year, with an export value of RMB 6.968 billion, an increase of 11.6% year-on-year.
Price of rare earth products on April 21, 2026
Images of erbium oxide
