Global rare earths short-term outlook July 2022 Report

Commodity Market Report 27 July 2022

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Report summary

Continued uncertainty caused by Covid19-related lockdowns in the Chinese domestic market, coupled with a weakening global economic outlook has forced rare earth prices lower in July. Market sentiment in China remains cautious, with consumers of rare earth products drawing down inventories in anticipation of lower prices. Underlying demand growth in magnets remains strong, driven by energy transition-related sectors in the period to 2026. After a weak Q2 2022 performance, the recovery in Chinese automotive sales is only expected to filter through the supply chain and pressure rare earth prices in Q4 2022. Restocking and demand recovery may see an aggressive recovery in prices, though improved supply availability will reduce pressure on prices by mid-2023. Longer-term, investment in the development of regional supply chains in North America and Europe will reduce dependence on Chinese production, though China will maintain a strong influence over the global market.

Lanthanum and cerium oxide
Neodymium, praseodymium and Nd-Pr oxide
Samarium, europium and gadolinium oxide
Terbium and dysprosium oxide
Other heavy rare earth oxides
- Changes to GDP and industrial sector growth forecast
- Changes to wind energy forecast
- Potential demand growth for cerium and lanthanum in Al-Mg alloys
- Chinese new energy vehicle sales recover
- US passes NDAA 2023 and finances the creation of strategic stockpiles
- Can ROW critical material strategies weaken China’s dominance?
- Xinfeng Zuokeng mining licence approved, bolstering Chinese IAC production
- Mkango publishes DFS for Songwe Hill rare earth project
- 3 more item(s)...