Fastmarkets launches rare earth metal prices

Read more on the rollout of our rare earth prices and how they aim to improve the transparency of rare earth magnet supply chains

Fastmarkets, an industry-leading price-reporting agency (PRA) recognized for its trusted pricing data and intelligence across global commodities, today announces the rollout of the next phase in its rare earth prices aimed at improving the transparency of rare earth magnet supply chains.

Rare earth magnets are part of modern life. Neodymium iron boron (NdFeB) magnets are light and powerful and can be found in everyday devices such as computers, tablets, smartphones, headphones and home appliances. They are also found in everything from medical devices, lifts, air conditioners, barcode scanners and water pumps to industrial robots and internal combustion engine (ICE), hybrid and electric vehicles. Forty years after their invention, NdFeB magnets continue to create the most powerful and efficient motors. But change is coming – not due to decreased necessity, but an evolution in requirements.

Growing volumes of rare earths going into the motors of hybrid and electric cars and renewable energy has placed them at the epicentre of the energy transition. And along with it – all the associated policy, trade and geopolitical tensions.

Much like how the magnet in your smartphone is hidden from view, the rare earth industry has historically been opaque and little understood. But the pressures on global supply chains and political and ESG risk are increasing. And pricing mechanisms are not keeping up with demands of modern manufacturing supply chains.

Fastmarkets is committed to increasing market transparency with more robust price discovery, better market intelligence and greater scrutiny of the factors moving prices.   

Following the launch of five rare earth oxide prices in China and Europe, Fastmarkets is adding four metal and alloy prices in China and a new oxide price in Europe. And more prices are on the way:

Neodymium-Praseodymium (NdPr) metal (75:25) fob China

NdPr metal is the biggest rare earth component in a finished NdFeB magnet. Large rare earth producers no longer fully separate out light rare earth elements neodymium and praseodymium, but instead produce a finished mixed oxide product which is sold and directly converted into NdPr metal, NdFeB alloy and finished magnets.

Dysprosium metal min 99% fob China

The majority of high performance NdFeB magnets use small or trace amounts of heavy rare earth elements dysprosium and terbium to keep them magnetized at high temperatures inside a vehicle motor.

Ferro-Dysprosium 80% fob China

To capture the widest possible range of inputs we are launching a dysprosium metal and alloy price.

Terbium metal min 99.9% fob China

Terbium is often added in smaller amounts than dysprosium but remains an important additive for high-performance magnets. From a pricing perspective it is one of the least transparent and most volatile rare earth products.

Praseodymium oxide 99.5% cif Rotterdam

Used in pigments in the glass industry, praseodymium oxide, like neodymium oxide, is one of the most geographically diverse refined rare earth products providing valuable insight into the evolution of the supply base.   

Raju Daswani, CEO of Fastmarkets, said: “We are delighted to bring much-needed transparency to markets for rare earth materials that support so many manufacturing supply chains and are critical to the energy transition.”

Caroline Messecar, strategic markets editor, technology metals, added: “In an increasingly uncertain world, unexplained price volatility is highly disruptive to innovation and global manufacturing supply chains. We need pricing mechanisms fit for the 21st century.”

Fastmarkets, standing at the intersection of industry innovation and market intelligence, reaffirms its dedication to empowering players along the entire rare earth supply chain through enhanced price discovery tools.

Visit Fastmarkets’ rare earth hub here to find out more.

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