Rare earth market update on October 16, 2025
The domestic rare earth market continues to perform poorly, with prices of praseodymium-neodymium series products further declining, low enthusiasm among traders for market engagement, and slow growth in actual orders. Today, the prices of praseodymium-neodymium oxide, praseodymium-neodymium metal, and holmium oxide decreased by approximately 7,000 yuan per ton, 10,000 yuan per ton, and 23,000 yuan per ton, respectively. Under these conditions, prices of different grades of neodymium-iron-boron blank blocks and their scrap have fallen to varying degrees, with the 52M neodymium-iron-boron blank block price decreasing by about 3 yuan per kilogram and neodymium-iron-boron scrap (praseodymium-neodymium) decreasing by about 5 yuan per kilogram.
From the supply side, although production from some rare earth mining and smelting enterprises has been reduced due to high production costs and stricter environmental policies, the market's spot inventory growth remains rapid due to weak downstream demand. From the demand side, factors include: first, China's strengthened export controls on certain rare earth-related items, which to some extent reduce domestic rare earth exports; second, the traditional consumption peak season ("Golden September and Silver October") failing to deliver the expected boost, combined with ongoing price declines, leading downstream users to adopt a generally cautious wait-and-see attitude with more prudent inquiries and purchases; third, the recent significant drop in mainstream product prices has spurred some consumers to increase their enthusiasm for purchasing at lower levels.
According to the China Association of Automobile Manufacturers (CAAM), in September, automobile production and sales reached 3.276 million and 3.226 million units, respectively, increased by 16.4% and 12.9% month-on-month, and increased by 17.1% and 14.9% year-on-year; among these, new energy vehicle (NEV) production and sales reached 1.617 million and 1.604 million units, respectively, increased by 23.7% and 24.6% year-on-year, with NEV new car sales accounting for 49.7% of total new car sales. From January to September, automobile production and sales reached 24.333 million and 24.363 million units, respectively, increased by 13.3% and 12.9% year-on-year; among these, NEV production and sales reached 11.243 million and 11.228 million units, respectively, increased by 35.2% and 34.9% year-on-year, with NEV new car sales accounting for 46.1% of total new car sales.
Price of rare earth products on October 16, 2025
Erbium oxide picture
