Rare Earth Market - September 29, 2026

Rare earth market update on September 29, 2026

Domestic rare earth prices overall maintained narrow-range fluctuations, mainly attributable to suppliers' low willingness to reduce prices for shipments, downstream demand falling short of expectations, and the absence of major news in the industry.

Today, the prices of neodymium oxide, gadolinium oxide, and holmium oxide were approximately RMB 765,000/ton, RMB 203,000/ton, and RMB 640,000/ton, respectively.

In the short term, downstream enterprises have tight working capital, relatively sufficient spot supply of raw materials, and coupled with weak future market expectations, market demand is relatively low; however, in the long term, with the rapid development of high-end manufacturing, demand for rare earth functional materials is expected to increase.

The latest data from the China Construction Machinery Association shows that from January to August this year, China's cumulative excavator exports exceeded domestic sales, with exports increasing by 31.8% year-on-year, a growth rate far exceeding domestic sales. Industry insiders said that the booming excavator exports are due, on the one hand, to the recovery of overseas demand. Mining development demand in Asia, Africa, and Latin America is strong, coupled with urbanization infrastructure investment, driving continuous growth in demand for medium and large excavators; dealers in European and American markets have entered a restocking cycle, and AI data center construction has also driven manufacturing recovery and rising demand for small equipment. On the other hand, Chinese excavator enterprises have comprehensive advantages in product performance, cost-effectiveness, and service, and their market share continues to increase.

According to CTIA GROUP, rare earths are core materials for excavator electronic control and power systems, mainly processed into NdFeB rare earth permanent magnet materials; in addition, a small amount of rare earth elements can be used for alloy modification to improve the wear resistance of bucket and bucket tooth steel. Therefore, the significant growth in China's excavator exports will, to a certain extent, drive demand for rare earth functional materials.

Price of rare earth products on September 29, 2026

Images of neodymium oxide

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