Rare Earth Elements
Rare earth elements (REEs) are a group of 17 metallic elements critical for permanent magnets (NdFeB), EV motors, wind turbines, defense systems, and electronics. China dominates production and processing, though diversification efforts are expanding mines in Australia, the US, and Myanmar.
- NdPr Oxide (99%+)
- Lanthanum Oxide
- Cerium Oxide
- Mixed RE Concentrate
- CIF
- CIP
- DAP
Rare Earth Elements, in brief.
- Common origins
- China
- Myanmar
- Australia
- United States
- Brazil
- Common destinations
- China
- Japan
- South Korea
- Europe
- United States
- Grades and specifications
- NdPr Oxide (99%+)
- Lanthanum Oxide
- Cerium Oxide
- Mixed RE Concentrate
- Incoterms
- CIF
- CIP
- DAP
- Unit of measure
- Metric Tons
What moves Rare Earth Elements pricing
Rare earths trade as oxides (NdPr oxide, dysprosium oxide, terbium oxide) and metals. Pricing references Asian Metal and Shanghai Metals Market for Chinese FOB equivalents. China controls ~85% of separation and processing capacity: Chinese export quota and tax adjustments swing global pricing. NdPr is the dominant value driver for permanent magnet motors (EVs, wind turbines). Heavy rare earths (dysprosium, terbium) are scarcer and higher-priced, used in high-temperature magnets.
How Rare Earth Elements cargoes are priced and settled
Cargoes are 1-25 tonnes for oxides, much smaller than industrial commodities. Pricing is per kg of contained REO (rare earth oxide) at the contracted purity. Long-term offtake agreements are the norm; spot market is shallow. Letter of credit and open account both used; payment terms reflect strategic supply relationships.
Rare Earth Elements specifications and dispute practice
Purity grades: 99.0%, 99.5%, 99.9%, 99.99% (4N), 99.999% (5N). Magnet-grade NdPr typically 99.5-99.9%. Disputes turn on contained REO assay, which requires ICP-MS analytical work: 2-3 week turnaround creating cargo settlement delays.
Where Rare Earth Elements comes from and where it goes
China dominates mining (Inner Mongolia Bayan Obo, Sichuan, Jiangxi), separation, and metal/alloy production. Outside China: Lynas (Australia, with Malaysian processing), MP Materials (US, with Chinese processing dependency), Iluka, and emerging projects in Greenland, Vietnam, and Brazil. End-use concentration in Japan, Korea, and increasingly the US (EV and wind supply chain on-shoring).
Who trades Rare Earth Elements?
The CTX Directory maps the companies behind a commodity: producers, traders and buyers, with the decision-makers to unlock. Ask in plain words and see who fits.
Related market pages.
- Iron Ore FinesIron ore fines are the most traded seaborne iron ore product, with particle sizes below 6.3mm. They are sintered before being charged into blast furnaces for pig iron production. The benchmark Platts IODEX (62% Fe CFR China) is the global reference price for iron ore fines.
- Iron Ore LumpIron ore lump is a directly chargeable blast furnace feed with particle sizes between 6.3mm and 31.5mm. It commands a lump premium over fines because it does not require sintering, saving energy and capex for steelmakers. Australian Pilbara lump is the most widely traded grade.
- Iron Ore PelletsIron ore pellets are spherical agglomerates of fine ore concentrate, hardened in kilns at 1,200-1,350 degrees Celsius. They offer superior blast furnace performance with higher iron content (65-67% Fe), better reducibility, and uniform size. DR-grade pellets feed direct reduction plants for DRI/HBI production.
- BauxiteBauxite is the primary ore of aluminum, processed through the Bayer process to produce alumina, which is then smelted into aluminum. Guinea and Australia hold the largest reserves. Bauxite quality is determined by available alumina content, reactive silica, and moisture levels.
- Chrome OreChrome ore (chromite) is the sole commercial source of chromium, essential for stainless steel production via ferro chrome. South Africa controls over 70% of global chromite reserves. Ore grades are classified by Cr2O3 content, with metallurgical grade (40%+ Cr2O3) commanding the highest prices.
- Lithium Ore (Spodumene)Spodumene is the most important hard-rock lithium mineral, containing up to 8% Li2O. It is converted into lithium hydroxide or lithium carbonate for use in electric vehicle batteries and energy storage. Australian spodumene concentrates (SC6, ~6% Li2O) dominate seaborne trade.
Find the counterparties for your next Rare Earth Elements cargo.
Free to start, no card. CTX Premium when you are ready to reach decision-makers.