Highlights
- China's Rare Earth Price Index reached 237.5 on January 14, 2026, marking a 10% increase since early December and continuing recovery from the early 2024 trough of approximately 150.
- Heavy rare earths—especially dysprosium (up to $878,000/ton) and terbium (up to $2.57 million/ton)—are driving the price surge due to defense demand, constrained supply, and anticipated export policy changes.
- Samarium prices remain elevated at $114-117/kg for oxide as interest grows in SmCo magnets as alternatives to dysprosium/terbium-based systems for aerospace applications.
China’s Rare Earth Price Index rose to 237.5 on January 14, 2026, according to the China Rare Earth Industry Association (ACREI), continuing an upward trajectory from its Q4 2025 average of ~217. Benchmarked to 100 in 2010, the index is based on real-time transaction data from over 20 leading Chinese producers and reflects a 10% rise since early December.
Key Price Movements (as of Jan 14, 2026)
Heavy Rare Earths Lead Gains:
| Heavy Rare Earths Lead Gains | Pricing Ranges |
|---|---|
| Dysprosium oxide (≥99.5%) | ¥6.22–6.28 million/ton → $870,000–$878,000/ton |
| Metal dysprosium | ¥7.65–7.75 million/ton → $1.07–$1.08 million/ton |
| Terbium oxide | ¥14.2–14.6 million/ton → $1.99–$2.04 million/ton |
| Metal terbium | ¥18.2–18.4 million/ton → $2.55–$2.57 million/ton |
| Holmium oxide | ¥513–533/kg → $71.75–$74.55/kg |
| Gadolinium oxide | ¥168.5–188.5/kg → $23.57–$26.36/kg |
Samarium Prices Hold at Elevated Levels:
- Samarium oxide: ¥817–837/kg → $114.20–$117.03/kg
- Metal samarium: ¥350–370/kg → $48.95–$51.75/kg
Light REEs Mixed but Firm:
- Neodymium oxide (≥99%): ¥662.5–682.5/kg → $92.65–$95.48/kg
- Nd-Pr alloy (≥99% Nd): ¥805–825/kg → $112.59–$115.38/kg
- Lanthanum oxide: ¥10.6–12.6/kg → $1.48–$1.76/kg
- Cerium carbonate: ¥4.2–6.2/kg → $0.59–$0.87/kg
Strategic Mixed Materials Rise:
- High-grade Nd₂O₃ oxide (≥75%): ¥662.5–682.5/kg → $92.65–$95.48/kg
- NdFeB alloy scrap (≥75% Nd): ¥805–825/kg → $112.59–$115.38/kg
Strategic Takeaways
- The 237.5 index marks a solid recovery from the early 2024 trough (~150) and indicates tightening fundamentals across the rare earth supply chain.
- Heavy REEs—especially dysprosium and terbium—are driving the current price surge, propelled by defense demand, constrained supply, and anticipated export policy changes.
- Samarium’s continued strength reflects rising interest in SmCo magnet systems as a Dy/Tb-free alternative for high-performance and aerospace applications.
- China’s position as the dominant price setter reinforces the strategic urgency for independent benchmarking tools and diversified sourcing strategies across the West.
Disclaimer: This report is based on data published by the China Rare Earth Industry Association, a state-affiliated body. While it provides valuable insight into domestic Chinese pricing, Rare Earth Exchanges™ recommends independent verification when making strategic or investment decisions.
© 2026 Rare Earth Exchanges™ – Accelerating Transparency, Accuracy, and Insight Across the Rare Earth & Critical Minerals Supply Chain.
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