Rare Earth Market - February 2, 2026

Rare earth market update on February 2, 2026

On Monday, the domestic rare earth market overall showed a relatively favorable trend. Amid the influence of numerous uncertainty factors, price trends of mainstream light and heavy rare earth products continued to perge: praseodymium-neodymium prices sustained upward movement, while dysprosium-terbium prices operated weakly.

Today, praseodymium oxide and neodymium oxide prices increased by approximately RMB 35,000/ton and RMB 34,000/ton respectively, terbium oxide price decreased by approximately RMB 50,000/ton, and dysprosium oxide price consolidated around RMB 1,410,000/ton. It is understood that current spot supply of praseodymium-neodymium is tightening, and future supply is difficult to increase, jointly enhancing praseodymium-neodymium suppliers' confidence in raising quotations; however, it should be noted that magnetic material enterprises have general acceptance of high-priced goods, which to a certain extent suppresses the amplitude of praseodymium-neodymium price increases.

On the news front: In January, the Manufacturing Purchasing Managers' Index (PMI) was 49.3%, decreased by 0.8 percentage points from the previous month. By enterprise size, large enterprise PMI was 50.3%, decreased by 0.5 percentage points from the previous month; medium and small enterprise PMI were 48.7% and 47.4% respectively, decreased by 1.1 and 1.2 percentage points from the previous month. Among sub-indices, the production index was 50.6%, decreased by 1.1 percentage points from the previous month; the new orders index was 49.2%, decreased by 1.6 percentage points from the previous month; the raw material inventory index was 47.4%, decreased by 0.4 percentage points from the previous month.

Price of rare earth products on February 2, 2026

Images of erbium oxide

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