Rare earth market update on June 2, 2026
The domestic rare earth prices are locally stable, with some minor increases. Among them, the price of praseodymium-neodymium oxide increased by approximately 7,000 RMB per ton, and the price of praseodymium-neodymium metal increased by approximately 5,000 RMB per ton. This is mainly attributed to limited downstream demand and insufficient supplier confidence in stable prices. However, from a long-term perspective, the rare earth market is expected to warm up again. Influenced by factors such as declining mine grade, the promising prospects of emerging industries, and issues with Myanmar shipments, the future supply of mainstream products may become tighter. The 2026 Fifth China (Ganzhou) Permanent Magnet Motor Industry Innovation Development Conference held concentrated signing of 11 projects, with a total signing amount of 148.5 billion RMB, and conducted roadshows of 4 technology achievement transformation projects. The projects cover fields such as permanent magnet materials and solid-state hydrogen storage materials.
In terms of news, from January to April 2026, the added value of the machinery industry maintained growth, with the output of most products increasing year-on-year. Among them, the output of excavators increased by 25.0% year-on-year, the output of metal-cutting machine tools increased by 4.2% year-on-year, the output of large tractors increased by 13.3% year-on-year, and the output of cement-special equipment increased by 34.4% year-on-year. The export of electromechanical products totaled 59,225 billion RMB, increasing by 15.9% year-on-year, accounting for 63.5% of total export value, with the cumulative export volume of most products increasing year-on-year. In April, the year-on-year changes in output of major products in the machinery industry varied; the output of industrial robots, excavators, large tractors, cement-special equipment, metal-forming machine tools, metal-cutting machine tools, etc., increased, while the output of air pollution control equipment, etc., decreased.
Price of rare earth products on June 2, 2026
Images of neodymium oxide
