On July 11, China Northern Rare Earth announced that, based on the pricing method for rare earth concentrates and the prices of rare earth oxides in Q2 2025, the transaction price for rare earth concentrates in Q3 2025 has been adjusted to 19,109 yuan per ton (dry basis, REO=50%), excluding tax. This represents an increase of 284 yuan per ton, or 1.51%, compared to the Q2 2025 price of 18,825 yuan per ton. For every 1% increase or decrease in REO content, the price, excluding tax, adjusts by 382.18 yuan per ton, an increase of 6 yuan per ton, or 1.51%, compared to Q2 2025 (376.50 yuan per ton).
Public data shows that both China Northern Rare Earth and Baogang United Steel are holding subsidiaries of the Baotou Steel Group. Baogang United Steel is a key producer of rare earth concentrates. After purchasing these concentrates from Baogang United Steel, China Northern Rare Earth conducts separation and smelting processes to produce higher value-added rare earth products.
According to statistics from CTIA GROUP LTD, in Q2 2025, the prices of most rare earth products in China increased both quarter-on-quarter and year-on-year. The average price of praseodymium oxide was 451,918 yuan per ton, increasing by 0.97% quarter-on-quarter and 15.61% year-on-year; neodymium oxide averaged 443,656 yuan per ton, increasing by 0.67% quarter-on-quarter and 13.73% year-on-year; praseodymium-neodymium oxide averaged 432,820 yuan per ton, increasing by 0.62% quarter-on-quarter and 13.10% year-on-year; praseodymium-neodymium metal averaged 531,984 yuan per ton, increasing by 0.47% quarter-on-quarter and 11.99% year-on-year; terbium oxide averaged 7,051 yuan per kilogram, increasing by 13.52% quarter-on-quarter and 14.52% year-on-year; dysprosium oxide averaged 1,645,820 yuan per ton, decreasing by 2.75% quarter-on-quarter and 16.54% year-on-year; and dysprosium-iron alloy averaged 1,604,426 yuan per ton, decreasing by 3.08% quarter-on-quarter and 16.86% year-on-year.
Against the backdrop of China Northern Rare Earth raising the Q3 rare earth concentrate transaction price, increasing downstream inquiries, and the growing prominence of rare earths as strategic mineral resources, the light rare earth market has been performing well recently. According to CTIA GROUP LTD, in early July 2025, praseodymium oxide prices increased by approximately 5.17%, neodymium oxide prices increased by about 6.64%, praseodymium-neodymium oxide prices increased by about 6.29%, and praseodymium-neodymium metal prices increased by about 7.33%.
