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High-Nickel",99.44,96.91,2.61,2.37,-3.84,[489,490,491,493,495,497,499,501,503,505,506,508],{"date":213,"value":483},{"date":216,"value":484},{"date":219,"value":492},97.09,{"date":222,"value":494},94.93,{"date":225,"value":496},97.13,{"date":467,"value":498},97.89,{"date":329,"value":500},101.4,{"date":339,"value":502},93.25,{"date":341,"value":504},98.94,{"date":344,"value":496},{"date":347,"value":507},98.69,{"date":350,"value":509},101.87,{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":511,"today":512,"last":513,"percentageChange":514,"yearToDate":515,"yearOnYear":516,"oneYearIndexTrend":517,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"NCM Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":737,"relatedVideos":738},112398923018918,"074100f3-405e-403f-a61e-8a18947257e4","Rare earths enter new era of price volatility ","rare-earths-enter-new-era-of-price-volatility","article/rare-earths-enter-new-era-of-price-volatility",{"_uid":547,"date":548,"tags":549,"editor":556,"content":566,"excerpt":711,"featured":51,"reporter":712,"_editable":716,"component":717,"seo_title":543,"categories":718,"visibility":727,"author_company":49,"data_vis_image":728,"featured_image":731,"seo_description":734,"author_full_name":49,"author_job_title":49,"formattedDate":735,"formattedArticleDate":736},"1d6b3256-5306-4199-8d33-f2b7fbb8687b","2025-09-05 00:00",[550,553],{"slug":551,"name":552},"china","China",{"slug":554,"name":555},"europe","Europe",[557],{"slug":558,"name":559,"content":560},"didi-bostock","Didi Bostock",{"job_title":561,"image":562,"bio":564,"linkedin":565},"Editor - Energy Transition & Economics",{"filename":563},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":567,"content":568},"doc",[569,594,616,628,633,638,645,650,672,680],{"type":570,"attrs":571,"content":572},"paragraph",{"textAlign":49},[573,588],{"text":574,"type":575,"marks":576},"Rare earths (REEs)","text",[577,582,586],{"type":578,"attrs":579},"link",{"href":580,"uuid":49,"anchor":49,"target":49,"linktype":581},"https://www.benchmarkminerals.com/glossary/what-is-rare-earths","url",{"type":583,"attrs":584},"textStyle",{"color":585},"#0969D7",{"type":587},"underline",{"text":589,"type":575,"marks":590}," stand at the intersection of global geopolitics, supply chain security, defence, and the energy transition; reflected in heightened price volatility for these strategically-important minerals.",[591],{"type":583,"attrs":592},{"color":593},"#3C3C39",{"type":570,"attrs":595,"content":596},{"textAlign":49},[597,602,611],{"text":598,"type":575,"marks":599},"Benchmark assessed prices of praseodymium-neodymium (PrNd) oxide (DDP China) to rise 20.6% m-o-m in August, underpinned by buyer restocking activity and tighter spot availability, as well as the broader geopolitical context. This translated into an 18% m-o-m uptick for Benchmark's Rare Earth China Weighted Average price – a basket price based on the ratio of PrNd, terbium (Tb), and dysprosium (Dy) oxides used in ",[600],{"type":583,"attrs":601},{"color":593},{"text":603,"type":575,"marks":604},"rare earth permanent magnets (REPM)",[605,608,610],{"type":578,"attrs":606},{"href":607,"uuid":49,"anchor":49,"target":49,"linktype":581},"https://www.benchmarkminerals.com/glossary/ev-motors-and-systems",{"type":583,"attrs":609},{"color":585},{"type":587},{"text":612,"type":575,"marks":613},".",[614],{"type":583,"attrs":615},{"color":593},{"type":617,"attrs":618},"blok",{"id":619,"body":620},"cae21464-b81a-41bd-afe0-72e698eda224",[621],{"id":622,"_uid":623,"type":624,"_editable":625,"component":626,"fixed_height":627,"use_fixed_height":50,"fixed_height_mobile":627,"fixed_height_tablet":627},"24976015","i-d8e48a92-7642-41c0-8544-95546922b800","visualisation","\u003C!--#storyblok#{\"name\": \"ContentFlourish\", \"space\": \"\", \"uid\": \"i-d8e48a92-7642-41c0-8544-95546922b800\", \"id\": \"\"}-->","ContentFlourish","",{"type":570,"attrs":629,"content":630},{"textAlign":49},[631],{"text":632,"type":575},"With China currently in peak manufacturing season for electric vehicles, wind turbines, and consumer electronics, a cyclical uptick in demand has added pressure on PrNd supply, creating upward mometumn for prices.",{"type":570,"attrs":634,"content":635},{"textAlign":49},[636],{"text":637,"type":575},"Moreover, in late August, China’s Ministry of Natural Resources revised the issuance of production quotas from twice yearly to an annual basis. Prior to the official confirmation, only the two main state-backed rare earth groups and their subsidiaries were sanctioned to continue producing. This left spot trading largely in the hands of traders, who sold from limited inventories at high premiums.",{"type":639,"attrs":640,"content":642},"heading",{"level":641,"textAlign":49},4,[643],{"text":644,"type":575},"What’s driving prices outside of China?",{"type":570,"attrs":646,"content":647},{"textAlign":49},[648],{"text":649,"type":575},"PrNd oxide prices in Europe and North America also rose sharply in August, in response to the rally in the Chinese market. ",{"type":570,"attrs":651,"content":652},{"textAlign":49},[653,658,667],{"text":654,"type":575,"marks":655},"Heavy rare earth oxides (HREO) have been trading at ",[656],{"type":583,"attrs":657},{"color":593},{"text":659,"type":575,"marks":660},"considerably higher levels (+250%) than in the domestic Chinese markets",[661,664,666],{"type":578,"attrs":662},{"href":663,"uuid":49,"anchor":49,"target":49,"linktype":581},"https://source.benchmarkminerals.com/article/rare-earth-prices-show-regional-bifurcation-following-export-restrictions-imposed-by-china",{"type":583,"attrs":665},{"color":585},{"type":587},{"text":668,"type":575,"marks":669}," since China introduced export controls. The measures have resulted in widespread delays in securing the necessary licences, keeping supply availability constrained in these regions.",[670],{"type":583,"attrs":671},{"color":593},{"type":570,"attrs":673,"content":674},{"textAlign":49},[675],{"text":676,"type":575,"marks":677},"Beijing has cautioned Western companies that aggressive stockpiling of rare earths could trigger countermeasures. This has created renewed anxiety in the West over China's ability to choke off supply.",[678],{"type":583,"attrs":679},{"color":593},{"type":570,"attrs":681,"content":682},{"textAlign":49},[683,692,697,706],{"text":684,"type":575,"marks":685},"The US and Europe are striving to reduce strategic dependencies on China",[686,689,691],{"type":578,"attrs":687},{"href":688,"uuid":49,"anchor":49,"target":49,"linktype":581},"https://source.benchmarkminerals.com/article/us-launches-section-232-investigation-into-imports-of-critical-minerals-and-rare-earths",{"type":583,"attrs":690},{"color":585},{"type":587},{"text":693,"type":575,"marks":694}," by building out domestic REE supply chains. ",[695],{"type":583,"attrs":696},{"color":593},{"text":698,"type":575,"marks":699},"MP Materials' 10-year supply agreement with the US Department of Defense",[700,703,705],{"type":578,"attrs":701},{"href":702,"uuid":49,"anchor":49,"target":49,"linktype":581},"https://source.benchmarkminerals.com/article/pentagon-invests-in-mp-materials-in-bid-to-break-chinas-rare-earths-dominance",{"type":583,"attrs":704},{"color":585},{"type":587},{"text":707,"type":575,"marks":708}," – which introduced a price floor of $110/kg for PrNd, effectively creating a premium for projects located outside China – has increased the risk of a sustained market bifurcation between the West and China.",[709],{"type":583,"attrs":710},{"color":593},"Rare earths (REEs) stand at the intersection of global geopolitics, supply chain security, defence, and the energy transition; reflected in heightened price volatility for these strategically-important minerals. Benchmark assessed prices of praseodymium-neodymium (PrNd) oxide (DDP China) to rise 20.6% m-o-m in August, underpinned by buyer restocking activity and tighter spot availability, as well as the […]",[713],{"slug":558,"name":559,"content":714},{"job_title":561,"image":715,"bio":564,"linkedin":565},{"filename":563},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"1d6b3256-5306-4199-8d33-f2b7fbb8687b\", \"id\": \"\"}-->","article",[719,722,725],{"slug":720,"name":721},"critical-minerals","Critical Minerals",{"slug":723,"name":724},"geopolitics","Geopolitics",{"slug":726,"name":414},"rare-earths","private",{"id":49,"alt":49,"name":627,"focus":49,"title":49,"source":49,"filename":627,"copyright":49,"fieldtype":729,"meta_data":730},"asset",{},{"id":49,"alt":627,"name":627,"focus":627,"title":627,"source":627,"filename":732,"copyright":627,"fieldtype":729,"meta_data":733,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/96d8a6ecdb/bm-rare-earths-mine.jpg",{"alt":627,"title":627,"source":627,"copyright":627},"Rare earths (REEs) stand at the intersection of global geopolitics, supply chain security, defence, and the energy transition; reflected in heightened price volatility for these strategically-important minerals. Benchmark assessed prices […]","Sep 05, 2025","5th September 2025",[],[],1783093106731]