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.

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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.

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