Rare earth market update on March 2, 2026
On Monday, the domestic rare earth prices overall fluctuated within a reasonable range, mainly attributed to low willingness among suppliers to reduce prices for shipments and limited purchasing power among buyers. Today, praseodymium-neodymium oxide, praseodymium-neodymium metal, terbium oxide, and dysprosium oxide prices were approximately RMB 893,000/ton, RMB 1,100,000/ton, RMB 6,550,000/ton, and RMB 1,630,000/ton respectively. According to CTIA GROUP LTD, after the Spring Festival, the rapid upward movement in mainstream rare earth product prices combined with relatively low downstream inquiries has resulted in insufficient momentum for suppliers to raise quotations again.
According to People's Daily news, recently, the State Administration for Market Regulation officially approved the establishment of the National Rare Earth Permanent Magnet Motor Quality Inspection and Testing Center based at Shenyang University of Technology, which will fill the gap in national-level quality inspection platforms for rare earth permanent magnet motors in China. The National Rare Earth Permanent Magnet Motor Quality Inspection Center will focus on inspection and testing needs in emerging and future industries such as new energy vehicles, wind power equipment, CNC machine tools and robots, rail transit, and low-altitude equipment, building a full-industry-chain, full-lifecycle inspection and testing service system. It will provide one-stop services from product research and development, pilot testing, to inspection and testing for upstream, midstream, and downstream enterprises in the rare earth permanent magnet materials, motor complete machine manufacturing, and high-end equipment application chains. It is expected to reduce enterprise testing costs by more than 20% annually and shorten product time-to-market by 30%.
Price of rare earth products on March 2, 2026
Images of neodymium oxide
