Rare earth market update on November 11, 2025
The domestic rare earth market overall shows a slow warming trend. Under the influence of various uncertainties, light and heavy rare-earth markets perform differently, with actual transaction volumes still needing improvement.
In the light rare-earth market, with downstream users maintaining essential procurement and strong production cost support, suppliers generally exhibit high reluctance to sell and bullish sentiment, pushing mainstream praseodymium-neodymium prices higher. Today, praseodymium-neodymium oxide and praseodymium-neodymium metal prices increased by approximately RMB 6,000 per ton and RMB 5,000 per ton, respectively.
In the medium-heavy rare-earth market, product prices are locally stable with minor adjustments in some cases, mainly due to slow downstream demand follow-through and insufficient strong bullish factors. Today, terbium oxide and holmium oxide prices stand at approximately RMB 6,650,000 per ton and RMB 502,000 per ton, respectively.
On the news front, National Bureau of Statistics data show that in October 2025, the national producer price index for industrial products decreased by 2.1% year-on-year and increased by 0.1% month-on-month; purchaser prices for industrial producers decreased by 2.7% year-on-year and increased by 0.1% month-on-month.
From a year-on-year perspective, in October, among producer prices for industrial products, means of production prices decreased by 2.4%, dragging the overall producer price index down by approximately 1.77 percentage points. Among them, mining industry prices decreased by 7.8%, raw material industry prices decreased by 2.5%, and processing industry prices decreased by 1.9%.
Among purchaser prices for industrial producers, fuel and power prices decreased by 7.4%, chemical raw materials decreased by 5.0%, building materials and non-metals decreased by 4.5%, ferrous metal materials decreased by 2.8%, and non-ferrous metal materials and wires increased by 7.5%.
Price of rare earth products on November 11, 2025

Neodymium oxide picture
