Rare earth & magnet price trends

Permanent magnet pricing is dominated by the cost of rare-earth raw materials — above all PrNd (praseodymium–neodymium oxide), the bulk of a sintered NdFeB magnet's material cost, plus the heavy rare earths DyFe and Tb used to raise coercivity in high-temperature grades.

PrNd oxide (China)

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DyFe alloy (China)

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Tb metal (China)

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PrNd oxide — monthly average (CNY/kg)

The core raw material of NdFeB magnets, and the main driver of magnet pricing.

DyFe alloy — monthly average (CNY/kg)

Dysprosium–iron alloy, the heavy rare earth that lifts coercivity in H/SH/UH grades.

Tb metal — monthly average (CNY/kg)

Terbium, the most effective (and most expensive) coercivity enhancer for high-end grades.

Data note

Monthly average prices compiled from daily China domestic market data (Asian Metal reference series), Jan 2014 – Aug 2026, in CNY/kg. For learning purposes only — not trading data. Always consult your supplier for live quotes.

How to read the cycle

The 2021–22 spike

PrNd oxide surged from ≈ 350 CNY/kg to a record ≈ 1,284 CNY/kg in early 2022 — driven by energy prices, supply curbs and speculative buying. DyFe and Tb followed.

The normalization (2022–2024)

Prices corrected through 2022–2024 as demand softened and inventories normalized, with PrNd settling around 400–500 CNY/kg.

The 2025–26 rebound

Strong demand from EVs, robotics and wind, tighter supply discipline and export controls pushed PrNd back above 900 CNY/kg by mid-2026.