Highlights

• China's Rare Earth Price Index rose 17.5% intra-month in February 2026, climbing from 257.6 to 307.3, driven by strong demand for magnet metals used in electric vehicles, renewable energy, and defense systems.
• Neodymium and praseodymium oxide prices surged 29% to approximately $12,100/tonne, while NdPr metal increased 9–10% to $55,450/tonne, reflecting tight supply and robust downstream magnet manufacturing demand.
• Heavy rare earths also gained ground with dysprosium oxide up 4.9% to $206,000/tonne and gadolinium oxide jumping 32.9%, signaling continued strategic stockpiling and potential Myanmar supply disruptions.

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Salt Lake City — Data released by the China Rare Earth Industry Association (CREIA) indicates that China’s domestic rare earth market strengthened during February 2026, led by rising prices for magnet metals critical to electric vehicles, renewable energy technologies, and defense systems. While global rare earth markets are increasingly bifurcated between China and emerging ex-China supply chains, the CREIA data underscores that

China’s domestic market remains a dominant pricing force in the sector.

According to CREIA’s February market report, the China Rare Earth Price Index averaged 285.4 for the month, rising steadily from 257.6 on February 1 to a peak of 307.3 on February 27, representing an intra-month increase of approximately 17.5%.

The report also notes that inventory pricing associated with Chinalco’s (opens in a new tab) high-tech rare earth storage system averaged 242,900 yuan per tonne in February, up 13.2% month-over-month.

Light Rare Earths Lead the Price Rally

Prices for light rare earth elements used in permanent magnets—particularly neodymium and praseodymium—recorded some of the largest gains during the month.

Average February prices reported by CREIA include:

Material	Price (RMB/tonne)	Price (USD/tonne)*	Monthly Change
Neodymium oxide	¥87,170/t	≈ $12,100/t	+29%
Praseodymium oxide	¥86,940/t	≈ $12,070/t	+29%
NdPr metal	¥399,300/t	≈ $55,450/t	+9-10%

*USD conversions use ~¥7.2/USD average exchange rate.

These materials are essential inputs for NdFeB permanent magnets, which power electric vehicle motors, wind turbines, robotics systems, and advanced defense technologies. The February price increases suggest robustdownstream demand and tightening supply of magnet feedstock materialswithin China’s domestic market.

Heavy Rare Earth Prices Also Edge Higher

Heavy rare earth elements—critical for improving magnet performance at high temperatures—also rose during February, though the increases were more moderate than those seen for NdPr.

CREIA reports the following February averages:

Material	Price (RMB/tonne)	Price (USD/tonne)	Monthly Change
Dysprosium oxide	¥1.48 million/t	≈ $206,000/t	+4.9%
Dysprosium metal	¥1.45 million/t	≈ $201,000/t	+4.7%
Terbium oxide	¥6.32 million/t	≈ $878,000/t	+1.5%
Terbium metal	¥7.83 million/t	≈ $1.09 million/t	+1.6%

Dysprosium and terbium are strategically critical elements because they allow permanent magnets to maintain performance at high temperatures. These metals are therefore essential for electric vehicles, aerospace technologies, and precision defense systems.

Other Rare Earth Oxides Show Mixed Gains

Several additional rare earth oxides recorded price increases during February:

Material	Price (RMB/tonne)	Price (USD/tonne)	Monthly Change
Lanthanum oxide	¥5,560/t	≈ $770/t	+2.7%
Cerium oxide	¥4,500/t	≈ $625/t	+6.6%
Gadolinium oxide	¥237,000/t	≈ $32,900/t	+32.9%
Holmium oxide	¥556,000/	≈ $77,200/t	+7.2%

Lanthanum and cerium are widely used in petroleum refining catalysts, glass polishing, and batteries, while heavier elements such as gadolinium and holmium serve specialized roles in medical imaging, specialty alloys, and optical technologies.

What the February Data Suggests

The February pricing trend suggests renewed strength in China’s rare earth market, particularly in magnet materials. Several structural factors may be influencing the market:

• continued demand growth from electric vehicles and renewable energy industries

• strategic stockpiling and inventory accumulation within China

• supply disruptions in Myanmar, a key source of heavy rare earth feedstock

• tighter environmental and regulatory controls on mining operations

Because China dominates global rare earth processing and magnet manufacturing, pricing signals in China’s domestic market continue to exert strong influence over global supply chain dynamics and long-term supply contracts.

Data Source and Disclaimer

This analysis is based on pricing data published by the China Rare Earth Industry Association.

Prices reported by CREIA reflect average domestic Chinese market conditions and may differ from international transaction prices depending on purity levels, delivery terms, contract structures, and downstream processing requirements. Rare earth markets remain relatively opaque, and pricing can vary significantly between spot trades, long-term contracts, and vertically integrated supply agreements.