I. China Rare Earth Price Market Analysis for May 2026
According to CTIA GROUP, in May 2026, the price trend of China rare earth products showed an oscillating decline, with the price of praseodymium oxide approximately decreasing by 75,000 RMB per ton, a drop of 8.77%; the price of neodymium oxide approximately decreasing by 75,000 RMB per ton, a drop of 8.82%; the price of praseodymium-neodymium oxide approximately decreasing by 87,000 RMB per ton, a drop of 11.23%; the price of praseodymium-neodymium metal approximately decreasing by 110,000 RMB per ton, a drop of 11.58%; the price of terbium oxide approximately decreasing by 100 RMB per kilogram, a drop of 1.63%; the price of dysprosium oxide approximately decreasing by 110,000 RMB per ton, a drop of 7.97%; and the price of dysprosium iron alloy approximately decreasing by 100,000 RMB per ton, a drop of 7.41%. It can be seen that the price decline of praseodymium-neodymium was greater than that of dysprosium-terbium in May.
In May, the main reasons for the decline in light rare earth prices were: first, the larger price increase in praseodymium-neodymium prices in April created a phase adjustment space for the May market prices; second, the demand from magnetic material enterprises fell short of expectations and the previous favorable factors gradually diminished, causing suppliers to raise panic and actively lower prices to cash back funds. In the middle and heavy rare earth markets, due to the difficult improvement in the downstream rigid demand purchase pattern, suppliers' confidence in stable prices was generally insufficient, combined with the continued cooling of light rare earth market conditions, the prices of middle and heavy rare earths also showed oscillating downward movement.
II. Average Price of Chinese Rare Earth Products in May 2026
In May 2026, the prices of most Chinese rare earth products decreased on a monthly basis. Among them, the average price of praseodymium oxide was 823,947 RMB per ton, which decreased by approximately 0.36% on a monthly basis and increased by approximately 85.16% year-on-year; the average price of neodymium oxide was 819,211 RMB per ton, which decreased by approximately 0.15% on a monthly basis and increased by approximately 87.98% year-on-year; the average price of praseodymium-neodymium oxide was 731,263 RMB per ton, which decreased by approximately 5.34% on a monthly basis and increased by approximately 70.58% year-on-year; the average price of praseodymium-neodymium metal was 895,000 RMB per ton, which decreased by approximately 5.02% on a monthly basis and increased by approximately 69.81% year-on-year; the average price of terbium oxide was 6,101 RMB per kilogram, which decreased by approximately 0.15% on a monthly basis and decreased by approximately 14.01% year-on-year; the average price of dysprosium oxide was 1,321,053 RMB per ton, which decreased by approximately 4.21% on a monthly basis and decreased by approximately 19.42% year-on-year; and the average price of dysprosium iron alloy was 1,291,053 RMB per ton, which decreased by approximately 4.70% on a monthly basis and decreased by approximately 19.26% year-on-year.
From January to May 2026, the average prices of Chinese mainstream light rare earths increased year-on-year, while the average prices of mainstream heavy rare earths decreased year-on-year. Among them, the average price of praseodymium oxide was 806,969 RMB per ton, increasing by 79.99% year-on-year; the average price of neodymium oxide was 801,776 RMB per ton, increasing by 81.51% year-on-year; the average price of praseodymium-neodymium oxide was 749,663 RMB per ton, increasing by 74.76% year-on-year; the average price of praseodymium-neodymium metal was 918,296 RMB per ton, increasing by 73.90% year-on-year; the average price of terbium oxide was 6,202 RMB per kilogram, decreasing by 3.12% year-on-year; the average price of dysprosium oxide was 1,413,878 RMB per ton, decreasing by 16.00% year-on-year; and the average price of dysprosium iron alloy was 1,383,469 RMB per ton, decreasing by 15.99% year-on-year.
