Rare earths
Overview
Rare earths or rare earth elements (REE) are crucial to modern society, driving innovation across automotives, electronics, renewable energy, healthcare, defence and aerospace, and as a catalyst in industrial and chemical processing.
As demand for highly engineered products continues to grow, manufacturers that rely on rare earths face a limited supply of marketable product outside a handful of Chinese producers.
Argus Rare Earths Analytics and Argus Non-Ferrous Markets address this unique challenge in the rare earths industry by delivering price data and forecasts through on-the-ground expertise and a proven methodology that supports long-term outlooks as well as supply and demand fundamentals.
Rare earths coverage
Argus produces more than 70 price assessments for the 17 rare earth elements, as well as delivering best-in-class data, news and analysis to support your decision making. In addition, the Argus Rare Earths Analytics service also provides market analysis and 10-year forecasts for supply, demand, prices and projects across key rare earths:
- Cerium prices
- Dysprosium prices
- Erbium prices
- Europium prices
- Gadolinium prices
- Lanthanum prices
- Mischmetal prices
- Neodymium prices
- Praseodymium prices
- Praseodymium-neodymium prices
- Samarium prices
- Terbium prices
- Yttrium prices
Latest rare earth news
Browse the latest market moving news on the global rare earth industry.
Japan’s domestic EV sales drop further in February
Japan’s domestic EV sales drop further in February
Tokyo, 6 March (Argus) — Japanese domestic sales of passenger electric vehicle (EVs) fell on the year for a 16th consecutive month in February, mostly because of lower demand for domestic brand EVs. Sales totalled 4,390 units in February, fell by 20pc from a year earlier, according to data from three industry groups — the Automobile Dealers Association, the Japan Light Motor Vehicle and Motorcycle Association and the Japan Automobile Importers Association (JAIA). Sales were also down by 3.8pc on the month. EVs accounted for 1.2pc of the country's total passenger car sales in February, down by 0.7 percentage points from a year earlier. The fall in EV sales is mostly attributed to weaker demand for domestic brand EVs. Sales of Nissan's Sakura, the country's top selling EV model, fell by 33pc on the year to 1,760 units. Demand for foreign brand EVs remained firm in February, according to JAIA's representative who spoke to Argus . Sales of foreign brand passenger EVs rose to 1,829 units, up by 11pc from a year earlier, marking the fourth consecutive month of year-on-year growth. Imported EVs accounted for around 42pc of Japan's total domestic EV sales, up by 12 percentage points from a year earlier. Chinese manufacturer BYD resumed normal shipments in Japan after a partial delivery suspension in January , according to JAIA. By Yusuke Maekawa Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
US should ‘feel the pain’ for tariffs: Ontario premier
US should ‘feel the pain’ for tariffs: Ontario premier
Calgary, 3 March (Argus) — US president Donald Trump needs to pull back on his tariffs against Canada or Ontario will stop the flow of nickel and electricity over the border, the premier of the country's most populated province said today. "If they want to annihilate Ontario, I'll do everything, including cut off their energy, with a smile on my face," said Ontario premier Doug Ford, speaking at the Prospectors and Developers Association of Canada's conference in Toronto. "They rely on our energy, they need to feel the pain." US president Donald Trump said on Monday the tariffs are "all set" to go into place on 4 March at 12:01am ET , a move that will likely to set off a trade war among the long-time economic allies. Under the executive orders Trump signed a month ago, the US will impose a 10pc tax on Canadian energy imports, a 25pc tariff on non-energy imports from Canada and a 25pc tariff on all imports from Mexico. "A tariff on Canada is a tax on Americans," said Ford. "They're going to get hurt, it's the wrong decision." Ford has directed his government to be ready should tariffs be implemented. The Liquor Control Board of Ontario (LCBO) will take "every bit of US alcohol off the shelves", a prospect that Ford said has senior politicians in Kentucky "losing their minds." A C$100mn deal with Elon Musk's Starlink internet services will be torn up, and Ford suggested legislation may be created to encourage consumers to buy more Canadian goods. "I'm not going to start a tariff war," said Ford. "[Trump] is going to get a rude awakening." In a broadcast interview later on Monday, Ford said he would stop the flow of nickel and electricity into the US. Canadian prime minister Justin Trudeau was en route from London on Monday and is expected to meet with his cabinet upon his return. "This is an existential threat to us," Canada's minister of foreign affairs Melanie Joly said Monday in Ottawa. By Brett Holmes Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Australia's Cobalt Blue to pause mine until prices rise
Australia's Cobalt Blue to pause mine until prices rise
Sydney, 28 February (Argus) — Australian metals firm Cobalt Blue is unlikely to further progress its Broken Hill cobalt project in New South Wales until mineral prices rise, the firm told Argus this week. Cobalt Blue in early 2024 paused work on Broken Hill's final feasibility study because of financing challenges, and launched a strategic review of the project looking at the viability of "a condensed, higher-margin project." That review is still ongoing, but it is unlikely to advance the project until cobalt market conditions improve, the company's ReMine Plus manager Helen Degeling told Argus on the sidelines of the Critical Minerals and Energy Investment Conference, which was held in Brisbane over 24-25 February. Cobalt Blue has been mining and processing ore at a demonstration plant at Broken Hill since 2022. But traditional lenders are unlikely to fund the project's next phase — a ramp up to commercial production — at current cobalt prices, Degeling said. Cobalt Blue was using a cobalt price assumption of approximately $27/kg while working on its Broken Hill definitive feasibility study. Argus ' cobalt powder min 99.8pc ex-works China price was last assessed at $22.30/kg on 20 February, down from a high of $102.40/kg on 30 March 2022. Cobalt Blue's analysts expect cobalt prices to stabilise over the coming years, as demand rises and global supply growth slows. But until that happens, the company will focus on developing its Kwinana cobalt sulphate refinery in Western Australia, and the Mount Isa sulphuric acid project in Queensland. Cobalt Blue's Kwinana refinery will start producing 3,000 t/yr of cobalt sulphate and 500 t/yr of nickel metal from the second half of 2027, using third-party mixed hydroxide precipitate (MHP). The company plans to start building the plant in late 2025. Cobalt Blue's Mount Isa sulphuric acid project is at an earlier development stage than the WA refinery. The company's engineering teams have developed novel techniques to extract sulphuric acid from mineral tailings, and are currently testing potential feedstocks for the plant. Mount Isa's final capacity will depend on feedstock procurement and regional demand trends, the company said. Cobalt Blue is not the only critical mineral firm pivoting towards processing projects. Some ACMEIC attendees indicated that financing challenges are also driving vanadium developers to consider prioritising refining work. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
DRC cobalt clampdown 'offers only temporary reprieve'
DRC cobalt clampdown 'offers only temporary reprieve'
London, 26 February (Argus) — A ban on cobalt exports from the Democratic Republic of Congo (DRC) is a clumsy and temporary solution to the long-term problem of oversupply, traders have told Argus . The ban announcement, strategically timed to coincide with a large industry event, has caused a stir among market participants and led to some volatility in the market, but traders doubt the long-term impact of the ban. Prices for cobalt hydroxide remained stable at $5.60-5.80/lb, their lowest since the launch of the assessment and unaffected by the ban so far. Most participants said the ban will simply lead to stockpiling at mines in the DRC, with as much as 50,000-70,000t of cobalt hydroxide potentially affected, based on a range of trader estimates. "For now, by implementing only an export ban, they are simply relocating accumulated stockpiles from ports and China back to the DRC," said an analyst at a large mining firm operating in the DRC. "Once the ban is lifted, prices are likely to return to previous levels." Another trader said there is "plenty of stock outside the DRC not subject to the export ban", with stocks reportedly high at the port of Durban in South Africa, and in Malaysia. "We may see some impact on supply, with smaller mines potentially shutting down, but I don't think it will be enough to rebalance the market," an analyst said. Short-term metal volatility There was some short-term volatility in the metals markets, which tend to be more reactive than hydroxide. Prices for Chinese cut cathodes in Europe rose to $9.50-10.50/lb, while prices for metal in China increased to Yn153-178/kg ex-works on 25 February, up from a 10-year low of Yn150-175/kg ex-works on 20 February. Prices on the Wuxi and CME exchange indexes also jumped. Traders on the spot market offered material at speculative prices. One trader offered some Chinese material at $11.20-11.25/lb, but with no feedback yet. The element of surprise may temporarily jolt the market, traders said. "No-one knew in advance... it took several hours for market participants located in [the DRC] to officially confirm the information," one analyst said. "Of course the news is generating panic, most traders are short, nothing happens like it should happen," said one trader. "It looks like it was released on purpose during the Shanghai conference... to have maximum effect." Enforcement problems and potential for extensions Traders in the cobalt market said this kind of ban has not been attempted in the DRC before and could lead to issues with enforcement. "This one is a complete blanket ban on cobalt, it's not been done before in this kind of form... Most people are waiting for clarity on how [it will be] enforced at the border," one trader said. The nature of some of the smaller-scale and artisanal cobalt mines in the DRC make any blanket ban difficult to enforce and the border with Zambia has been described as "leaky". The border between the DRC and Zambia was closed from 20 March 2020 to 8 May 2020 owing to Covid-19, which caused a spike in cobalt prices later that year as hydroxide deliveries slowed to China. Market participants warned that if the ban continues there could be longer-term effects and it could be the opening salvo in a new strategy by the DRC to control its cobalt resources. "Maybe they are going to use the reverse Chinese strategy, of setting their lowest ideal price and stopping production if it reaches it or drops below it. If that is the case, this stop and start could go on for years," a trader said. An analyst said a move to quota systems could be good for the DRC, or the country risks "repeating the consequences of previous export bans", leading to a cycle of boom and bust in the markets. By Thomas Kavanagh and Chris Welch Annual mined cobalt production t Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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