Commodity
Rare earths
The rare earths are seventeen elements that are not especially rare, but are rarely found in concentrations worth mining and are genuinely difficult to separate from one another. The separation, not the mining, is the bottleneck.
Price
Annual reference price
2025, estimatedNot a live price. Annual average, free on board, published once a year. Use it for scale and direction, not as today's price.
| Year | Price, USD/kg | Against the highest year shown |
|---|---|---|
| 2021 | 92.00 | |
| 2022 | 124.00 | |
| 2023 | 75.00 | |
| 2024 | 55.00 | |
| 2025e | 69.00 |
Source: U.S. Geological Survey, Mineral Commodity Summaries 2026, from Argus Non-Ferrous Markets assessments. Checked 13 September 2026.
What it is used for
- Permanent magnets for motors and wind turbines
- Phosphors and lasers
- Catalysts for refining
- Polishing compounds
Supply
Individual elements price separately and the magnet elements neodymium, praseodymium, dysprosium and terbium carry most of the value. Separation and refining capacity remains concentrated in China.
Principal producing countries: China, United States, Myanmar, Australia, Thailand.
Producer list from United States Geological Survey, Mineral Commodity Summaries, checked 10 September 2026.