Japan and India in Talks to Explore Rare Earth Minerals in Rajasthan, Tech Support Expected

[SMM Rare Earth Weekly Review: Rare Earth Prices Pulled Back, Strong Wait-and-See Sentiment Downstream] Affected by news-related factors, the Pr-Nd oxide market saw heightened wait-and-see sentiment among downstream metal plants, and some traders proactively cut prices to boost shipments. As of today, Pr-Nd oxide prices had pulled back to 845,000-850,000 yuan/mt.

Rare Earths Norway announced a significant increase in the mineral resource valuation of its Fen rare earth project, which now contains a total of 15.9 million mt of rare earth oxides, up 81% from the 8.8 million mt assessed in 2024. Located in southern Norway, the project is the largest rare earth ore under development in Europe, and the resource increase is mainly based on the results of last year’s supplementary exploration drilling. The company said this will help the European continent reduce its reliance on China’s rare earth supplies.

【SMM News on March 4】Driven by rising domestic prices and international energy prices, overseas lanthanum-cerium oxide prices increased across the board. Lanthanum oxide FOB was assessed at $960-1,020/mt, up $30/mt; cerium oxide FOB was assessed at $1,883-1,967/mt, up $125/mt; and cerium oxide CIF (Port of Rotterdam) was assessed at $2,550-2,560/mt, up $135/mt. According to the SMM survey, this round of price increases was a normal market fluctuation and has not yet caused significant cost pressure on overseas buyers.