Price

Lutetium Pricing and Market Data

Lutetium oxide is priced at $800-1,200/kg, making it the most expensive rare earth element by weight due to its extreme scarcity (heaviest and rarest lanthanide). The market is tiny (~10 tonnes/year) with no exchange trading. Medical demand for PET scanner scintillators and the rapidly growing Lu-177 radiopharmaceutical market are the primary price supports. The emergence of Lu-177-based cancer therapies (Pluvicto) has created a new high-value demand stream that could strain the already minimal supply.

Pricing Mechanisms

Lutetium is priced using benchmarks from Asian Metals. Lutetium pricing operates through a combination of exchange-based benchmarks, price reporting agency assessments, bilateral negotiation, and long-term offtake contracts. The specific mechanism depends on product form, grade, and the buyer-seller relationship.

Price History and Notable Market Events

The Lutetium market has been shaped by the following key events:

Price Drivers

Key factors influencing Lutetium prices include production levels in China (95% of global supply), demand from pet scan detectors and petroleum refining catalysts, inventory levels, energy costs, and government policy actions such as export restrictions or strategic stockpiling.

Spot vs. Contract Pricing

The Lutetium market features both spot transactions and longer-term contracts. Spot prices reflect current conditions and are more volatile, while multi-year offtake agreements provide supply security for both producers and consumers. Current spot pricing is in the range of 900-1,400 $/kg oxide.