Price

Neodymium Pricing and Market Data

Rare earth magnet metals - neodymium and praseodymium (NdPr) - saw renewed price strength through 2025 after a correction from their 2022 peaks. NdPr oxide prices climbed to around $75/kg by late 2025, up from lows near $45/kg in mid-2023. The recovery was driven by surging EV motor demand, offshore wind turbine installations requiring large direct-drive generators, and growing industrial robotics adoption. China tightened rare earth export licensing in 2025 and consolidated domestic producers under state-backed entities, reinforcing its market control. Myanmar's political instability disrupted heavy rare earth supply from the Kachin State mining region, adding further upward pressure on the entire rare earth complex.

Pricing Mechanisms

Neodymium is priced using benchmarks from Asian Metals/Shanghai Metals Market. Neodymium 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 Neodymium market has been shaped by the following key events:

Price Drivers

Key factors influencing Neodymium prices include production levels in China (62% of global supply), demand from permanent magnets for ev motors and wind turbine generators, inventory levels, energy costs, and government policy actions such as export restrictions or strategic stockpiling.

Spot vs. Contract Pricing

The Neodymium 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 70-80 $/kg oxide (NdPr).