China Rare Earth Industry Association Reports October Price Weakness as November Index Falls to 254.7

Highlights

• China's rare earth price index averaged 261.6 in October 2026, down 2.8% from September, falling further to 254.7 by November 9.
• Ex-China dysprosium quotations range from $2,500–$5,500/kg versus roughly $210–$220 domestically in China, reflecting acute physical scarcity outside China.
• Neither China's state-directed domestic market nor the thin ex-China market provides a universally reliable spot price for Western buyers.
• Heavy and light rare earths are diverging sharply: NdPr faces softer demand while dysprosium, terbium, and yttrium face severe supply constraints outside China.
• Published price benchmarks from agencies may not reflect executable transactions; buyers must evaluate product form, purity, origin, export eligibility, and delivery certainty.