Neodymium Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Neodymium in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Neodymium Price Trend for Second Half of 2023

The Neodymium market is driven by the increasing demand for neodymium-based permanent magnets, particularly in the automotive and electronics industries. These magnets are essential components in electric vehicle motors, wind turbines, computer hard drives, and various consumer electronics. Additionally, advancements in renewable energy technologies and the growing adoption of electric vehicles worldwide are fueling the demand for neodymium.

Neodymium Price Chart

Neodymium Price Trends

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The rare earth market experienced a growing disparity between supply and demand, posing challenges for producers and consumers as well in the last two quarters of 2023. At the same time, the shift to zero-carbon energy and transportation drove the demand for certain rare earth elements (REEs), such as neodymium and praseodymium, used in magnets for electric vehicles and green energy technologies.

The focus on specific elements has led to an oversupply of some while others are in high demand, creating price discrepancies. The shift has left some deposits with an imbalance of REEs, with some elements more valuable than others. These shifting sentiments of the downstream industries and the struggling condition of the mining sector under the rising number of environmental restrictions and safety concerns lowered the availability of neodymium in the global markets, raising its prices.

Analyst Insight

According to Procurement Resource, the price trend of Neodymium is estimated to incline in the next few quarters as the widening of the gap between supply and demand will favor the rise in neodymium prices.

Neodymium Price Trend for the First Half of 2023

The market of rare earth metals such as neodymium witnessed fluctuating market sentiments in the first two quarters of 2023 as the price trend suffered from the consistent decline in demand from the renewable energy sector and other related industries. Amid this muted demand for neodymium, the supply from the majority of suppliers, especially in China, inclined gradually during the first two quarters of 2023.

Among the downstream sector, the automotive sector somehow managed to maintain its pace, but the combustion engines sector and global wind energy sector were challenged with a low number of sales.

The magnets industries also showcased weak growth potential, and the plunging economy further pushed the price trend of neodymium into the negative zone. In addition to this, the supply of neodymium remained unrestricted in the Asia Pacific region, but the export rates suffered from strict policies, which only led to a rise in the level of inventories, hampering the growth of neodymium prices.

Analyst Insight

According to Procurement Resource, the price of Neodymium is expected to continue its declining trajectory as the demand from the end-user industries will likely remain weak amid feeble economic conditions.

Procurement Resource provides latest prices of Neodymium. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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Neodymium is a component of Didymium that is often utilised for colouring glass to make welder's and glass blower's goggles. It is a soft silvery metal that oxidises in air. An electropositive element, Neodymium reacts slowly with cold water. Naturally occurring Neodymium contains a mixture of five stable isotopes and two radioisotopes.

Product Details

Report Features Details
Product Name Neodymium
Chemical Formula Nd
Industrial Uses Rare earth magnets, Anticoagulant, Electrical and electronic products, Medical science, Glass for Tanning Booths, Lasers
Molecular Weight 144.24 g/mol
Synonyms 7440-00-8, Neodimio, Neodyme, Neodym
Supplier Database American Elements, Dura Magnetics, Inc., ABSCO Limited, Umicore N.V., Reade International Corp, HEFA Rare Earth Canada Co. Ltd.
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Process

  • Production of Neodymium via Extraction

Neodymium can be found in ores of other minerals such as monazite and bastnäsite, which are mined and extracted.  They are the primary ores from which Neodymium is derived after refining.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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