China Rare Earth Industry Association Reports 263.6 Index as Neodymium-Praseodymium Prices Rise

Highlights

• China Rare Earth Industry Association posted a 263.6 price index on October 9, 2026, with neodymium-praseodymium oxide rising to ¥729.8–749.8/kg
• Terbium oxide fell despite small-volume transactions exceeding $12,000/kg, exposing the gap between published assessments and real transaction prices
• MP Materials holds a DOD-backed NdPr floor of $110/kg, while Serra Verde has separate contractual floors for dysprosium and terbium
• China's hybrid socialist-capitalist system embeds export controls and quotas into pricing, making its reference prices unreliable as open-market benchmarks
• Yttrium, terbium, and erbium serve critical roles in chipmaking equipment, fiber optics, and laser systems, broadening strategic demand beyond EVs