1. Analysis of China Rare Earth Price Trends in November 2025

According to CTIA GROUP LTD, in November 2025 the price trends of mainstream light and heavy rare earth products in China showed slight divergence: praseodymium-neodymium prices increased slightly, while dysprosium-terbium prices decreased slightly. In the light rare earth market, acceptable demand and continuous tightening of low-priced supply have largely strengthened suppliers' reluctance to sell and their confidence in maintaining prices. In the medium and heavy rare earth market, the overall situation was "prices exist but no market", with downstream users showing low initiative in inquiries and procurement for a prolonged period and limited bullish support, leading some suppliers to have relatively high willingness to reduce prices for shipments, but supported by production costs, the room for product price declines remained small.
2. Average Prices of Rare Earth Products in November 2025

In November 2025, the prices of most rare earth products in China decreased month-on-month but increased year-on-year. Among them, the average price of praseodymium oxide was RMB 571,700/ton, decreased by approximately 2.12% month-on-month, increased by 32.92% year-on-year; neodymium oxide RMB 568,600/ton, decreased by approximately 2.42% month-on-month, increased by 32.60% year-on-year; praseodymium-neodymium oxide RMB 550,600/ton, increased by approximately 4.68% month-on-month, increased by 31.10% year-on-year; praseodymium-neodymium metal RMB 675,050/ton, increased by approximately 5.01% month-on-month, increased by 29.92% year-on-year; terbium oxide RMB 6,611/kg, decreased by approximately 4.34% month-on-month, increased by 11.77% year-on-year; dysprosium oxide RMB 1,542,500/ton, decreased by approximately 4.29% month-on-month, decreased by 10.53% year-on-year; dysprosium-iron alloy RMB 1,491,500/ton, decreased by approximately 3.84% month-on-month, decreased by 11.89% year-on-year.

From January to November 2025, the prices of most rare earth products in China increased year-on-year. Among them, the average price of praseodymium oxide was RMB 508,457/ton, increased by 26.77% year-on-year; neodymium oxide RMB 502,789/ton, increased by 25.76% year-on-year; praseodymium-neodymium oxide RMB 482,619/ton, increased by 23.08% year-on-year; praseodymium-neodymium metal RMB 592,700/ton, increased by 22.01% year-on-year; terbium oxide RMB 6,817/kg, increased by 17.60% year-on-year; dysprosium oxide RMB 1,644,596/ton, decreased by 11.72% year-on-year; dysprosium-iron alloy RMB 1,600,130/ton, decreased by 12.52% year-on-year.