Rare earth price
Neodymium price today: $174.45 per kg
Price as of 27 October 2026 · checked 28 October 2026 · USD per kg, metal
Summary
The neodymium reference price is $174.45 per kilogram of metal as of 27 October 2026, +16.85% year to date and +168.38% since January 2020. Neodymium is the largest-volume magnet metal and the least tight of the four rare earths we price: +16.85% year to date against +377.23% for dysprosium.
Neodymium price in every unit and over time
| Measure | USD | Note |
|---|---|---|
| Per kilogram | $174.45 | Reference price, metal, 27 October 2026 |
| Per gram | $0.174 | kg price divided by 1,000 |
| Per troy ounce | $5.43 | 1 kg = 32.1507 troy ounces |
| Per pound | $79.13 | 1 kg = 2.2046 pounds |
| Per tonne | $174,450 | kg price times 1,000 |
| 1 January 2026 | $149.29 | Derived from the year-to-date change |
| Year to date | +16.85% | Rank 8 of 12 metals |
| January 2020 | $65.00 | Derived from the change since January 2020 (+168.38%) |
- January 2020 (derived) $65.00
- 1 January 2026 (derived) $149
- 27 October 2026 $174
Source: supplier reference prices for private investors, USD per kg of metal. Derived values back-calculate from the stated percentage changes and are rounded. How we price
What is moving the neodymium price
A light rare earth, outside the April 2025 list
Neodymium and praseodymium were not among the seven elements China licensed on 4 April 2025, and the October 2025 package that would have widened controls was suspended. Their price now moves on magnet demand and Chinese quota and separation economics, with licensing risk coming mainly through magnets and heavy rare earth additives. USGS data show the pass-through: neodymium oxide averaged $73 per kg in 2025, up 30% from $56 in 2024 but still well below the 2022 average of $134.
Metal costs about 2.4 times the 2025 oxide average
The $174.45 reference price for metal compares with a 2025 USGS average of $73 per kg for neodymium oxide (99.5%) and $69 per kg for NdPr oxide (99%). Neodymium oxide is about 86% neodymium by weight, so $73 per kg of oxide is roughly $85 per kg of contained metal before conversion cost. The remaining premium reflects conversion, small lot sizes and the retail channel.
Supply is concentrated but no longer only in China
World mine output of rare earths was 390,000 tonnes of oxide equivalent in 2025: China 270,000 (69%), the United States 51,000 (Mountain Pass, California), Australia 29,000 and Burma 22,000. Separation is more concentrated than mining. US imports of rare earth compounds and metals rose 169% in 2025, and the US government stockpile plan for fiscal 2025 listed up to 300 tonnes of NdPr oxide and 450 tonnes of NdFeB magnet block for acquisition.
Neodymium price context: USGS annual oxide averages
| Year | Price | Detail |
|---|---|---|
| 2021 | $98 | neodymium oxide 99.5%, per kg |
| 2022 | $134 | |
| 2023 | $78 | |
| 2024 | $56 | |
| 2025 (est.) | $73 | NdPr oxide 99%: $69 per kg |
The reference price is a private-investor metal price at a single date. The benchmarks above are annual averages for a different form (oxide or an import value) and a different channel, so the gap between them is context, not an arbitrage. Source: USGS Mineral Commodity Summaries 2026.
World rare earth mine production, 2025 (USGS, tonnes REO)
| Country | 2025e (t REO) | Share |
|---|---|---|
| China | 270,000 | 69% |
| United States | 51,000 | 13% |
| Australia | 29,000 | 7% |
| Burma | 22,000 | 6% |
| Thailand | 4,800 | 1% |
| India | 2,900 | 1% |
| Madagascar | 2,700 | 1% |
| World total | 390,000 | 100% |
All rare earths combined, oxide equivalent. USGS does not split output by element. Shares calculated from USGS figures.
What neodymium is used for
| End use | Weight | Detail |
|---|---|---|
| NdFeB permanent magnets | Leading global use | EV traction motors, wind turbines, hard-disk drives, industrial motors |
| Other | Minor | Alloys, lasers, ceramics and glass colouring |
Dates and signals to watch
- About 10 November 2026Reported expiry of the one-year suspension of the October 2025 package that would have extended controls to magnet materials and processing technology.
- QuarterlyMountain Pass and Lynas NdPr output and separation capacity updates.
- OngoingUS stockpile purchases of NdPr oxide and magnet block.
These are scheduled or reported events, not forecasts. We do not publish price targets. Chinese announcement dates should be checked against the original MOFCOM text; see the export-control timeline.
Compared with related metals
| Metal | USD per kg | YTD |
|---|---|---|
| Neodymium | $174.45 | +16.85% |
| Praseodymium price | $182.21 | +26.45% |
| Dysprosium price | $2,166.15 | +377.23% |
All 12 prices · What is neodymium? · Rare earth stocks with NdPr exposure · Price calculator
Neodymium price: frequently asked questions
What is the neodymium price per kilogram today?
The neodymium reference price is $174.45 per kilogram of metal as of 27 October 2026, +16.85% year to date and +168.38% since January 2020.
What is the difference between neodymium metal and oxide prices?
Oxide is the traded intermediate; metal is oxide reduced in a further step. USGS reports a 2025 average of $73 per kg for neodymium oxide against a $174.45 reference price for metal today, so metal carries a substantial premium for conversion and small lots.
Is neodymium on China's export control list?
Not on the April 2025 list. That list covers samarium, gadolinium, terbium, dysprosium, lutetium, scandium and yttrium. The October 2025 package, which would have widened controls and covered magnet materials, is suspended for one year.
Why does neodymium cost less than praseodymium in this table?
The two trade close together and are mined and sold together as NdPr. Praseodymium is $182.21 per kg in our table against $174.45 for neodymium. USGS recorded a 2025 oxide average of $74 for praseodymium and $73 for neodymium.
Sources
- U.S. Geological Survey, Mineral Commodity Summaries 2026: Rare Earths — February 2026, 2025 estimates
- China Ministry of Commerce (MOFCOM), export control announcements 23/2023, 33/2024, 46/2024, 18/2025, 70/2025 and 72/2025 — check the original text for the current licence status
Reference prices are indicative, not offers to buy or sell, and not investment advice. Reviewed 28 October 2026.