Price

Terbium Pricing and Market Data

Terbium prices surged in lockstep with other heavy rare earths during 2025, rising from around $800/kg in early 2024 to approximately $1,800/kg by early 2026. Terbium is essential in NdFeB permanent magnets alongside dysprosium, improving thermal stability and coercivity. The same supply disruptions affecting dysprosium - Myanmar mining instability, Chinese export tightening, and consolidation of domestic rare earth producers - drove terbium's price rally. Terbium also faces demand growth from green phosphors in energy-efficient lighting and magnetostrictive applications in defense sonar systems. With extremely limited global production outside China and Myanmar, terbium ranks among the highest supply-risk critical minerals.

Pricing Mechanisms

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

Price Drivers

Key factors influencing Terbium prices include production levels in China (98% of global supply), demand from permanent magnets (ndfeb additive) and green phosphors for displays, inventory levels, energy costs, and government policy actions such as export restrictions or strategic stockpiling.

Spot vs. Contract Pricing

The Terbium 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 985-1,050 $/kg oxide.