Overseas market dynamics:
Price-wise:
Rare earth oxide prices this week: cerium oxide FOB was at $1,718-1,802/mt, up $40/mt. Cerium oxide CIF (Rotterdam) was at $2,375-2,385/mt, up $45/mt. Praseodymium oxide FOB was at $122-126/kg, up $10/kg; neodymium oxide FOB was at $150-170/kg, up $10/kg; neodymium oxide CIF (Rotterdam) was at $215-225/kg, up $20/kg. Lanthanum oxide FOB was at $870-930/mt; dysprosium oxide FOB was at $271-311/kg; terbium oxide FOB was at $1,130-1,168/kg, overall holding steady.
Rare earth metal prices this week: praseodymium metal FOB was at $165-168/kg, up $10/kg; neodymium metal FOB was at $143-163/kg, up $12/kg; terbium metal FOB was at $1,400-1,420/kg; yttrium metal FOB was at $33-38/kg; lanthanum metal FOB was at $3-3.1/kg, overall holding steady.
Transaction-wise:Lanthanum oxide FOB and lanthanum metal FOB prices held steady this week, with no significant changes in market supply and demand recently. On the supply side, major producers maintained stable production; on the demand side, application demand in traditional fields such as catalysts and glass additives remained steady.
Praseodymium oxide FOB, neodymium oxide FOB/CIF, praseodymium metal FOB, and neodymium metal FOB prices showed a clear upward trend, driven mainly by continued rapid increases in domestic Chinese spot prices pushing up offshore quotes, coupled with tight supply due to restricted operations at domestic separation enterprises, reduced export supply volumes, and the impact of pre-Chinese New Year holiday breaks, resulting in a situation where overseas rare earth spot trading had prices but little actual market activity.
Dysprosium oxide FOB, terbium oxide FOB, terbium metal FOB, and yttrium metal FOB prices remained stable for now: although domestic prices were steadily declining, limited international circulation due to various reasons prevented significant price drops.
Overseas news highlights this week
This week, the overseas rare earth market revolved around three main themes: technological breakthroughs, capacity expansion, and geopolitical strategy. US and Canadian companies made substantive progress in rare earth recycling technology, South Korea adopted a two-way strategy in supply chain cooperation, while the US launched a large-scale strategic stockpiling plan, highlighting global urgency for rare earth supply chain autonomy. Additionally, resource countries like Russia and India accelerated exploration layouts, while Japan and the EU enhanced industry chain resilience through corporate restructuring and international cooperation.
Recycling Technology and Capacity Construction Continue to Advance
US technology company Supra Elemental Recovery announced on Tuesday that it raised $2 million to commercialize its "sponge-like" filter cartridge technology, which can recover gallium, scandium, and some rare earth elements from industrial scrap. It is expected to conduct a pilot in 2026. Meanwhile, Canadian recycler Cyclic Materials invested $82 million to build a second plant in South Carolina, US, with a designed annual processing capacity of 600 mt of mixed rare earth oxides (expandable to 1,800 mt), expected to commence operation in 2028. Its 10-year exclusive recycling agreement with German magnet manufacturer VAC further solidifies downstream demand. Additionally, US-based Phoenix Tailings officially commenced operation of its rare earth metallization plant in New Hampshire, with an annual capacity of 200 mt, claiming complete independence from Chinese technology and aiming to meet US national defense needs.
Geostrategic and Policy Coordination Deepens
The South Korean government announced a dual strategy on Thursday: on one hand, it assumed the chairmanship of the US-led FORGE mechanism at the Ministerial Meeting on Critical Minerals in Washington; on the other hand, it established a supply chain hotline and a joint committee with China to stabilize import channels. The US concurrently launched the $12 billion "Treasury Plan," collaborating with over ten enterprises including General Motors and Boeing to establish a strategic reserve for critical minerals, focusing on scarce resources such as gallium and cobalt. The EU upgraded its comprehensive strategic partnership with Vietnam, cooperating on the development of rare earth mining and processing technologies to reduce reliance on China.
Resource Development and Industrial Layout Accelerate
Australia's Iluka Resources reported that its 2025 heavy mineral production increased 13% YoY, but affected by weak zircon sand prices, the company plans to restart the suspended SR2 processing facility in 2026 based on market conditions. Russia announced an additional 30,000 mt of rare earth reserves at the Lovozero deposit and is seeking cooperation with the US to develop processing projects. Although India possesses the world's third-largest rare earth reserves, its 2024 production was only 2,900 mt, accounting for less than 1% of the global total, highlighting its development bottlenecks. Japan's Proterial plans to spin off its magnetic material business in April to attract Western capital, addressing China's dominance in the permanent magnet sector.
