Rare earths
Overview
Rare earths or rare earth elements (REE) are crucial to modern society, driving innovation across automotives, electronics, renewable energy, healthcare, defence and aerospace, and as a catalyst in industrial and chemical processing.
As demand for highly engineered products continues to grow, manufacturers that rely on rare earths face a limited supply of marketable product outside a handful of Chinese producers.
Argus Rare Earths Analytics and Argus Non-Ferrous Markets address this unique challenge in the rare earths industry by delivering price data and forecasts through on-the-ground expertise and a proven methodology that supports long-term outlooks as well as supply and demand fundamentals.
Rare earths coverage
Argus produces more than 70 price assessments for the 17 rare earth elements, as well as delivering best-in-class data, news and analysis to support your decision making. In addition, the Argus Rare Earths Analytics service also provides market analysis and 10-year forecasts for supply, demand, prices and projects across key rare earths:
- Cerium prices
- Dysprosium prices
- Erbium prices
- Europium prices
- Gadolinium prices
- Lanthanum prices
- Mischmetal prices
- Neodymium prices
- Praseodymium prices
- Praseodymium-neodymium prices
- Samarium prices
- Terbium prices
- Yttrium prices
Latest rare earth news
Browse the latest market moving news on the global rare earth industry.
Foreign-brand EV sales surge in Japan despite US tariff
Foreign-brand EV sales surge in Japan despite US tariff
Tokyo, 5 June (Argus) — Japan's domestic sales of foreign-brand electric vehicles (EVs) sales surged in May, but the US' blanket 25pc tariff on automobiles had little impact on this, the Japan Automobile Importers Association (JAIA) told Argus . Japan's domestic EV sales were largely stable in May from a year earlier at 3,791 units, according to data from three industry groups — the Automobile Dealers Association, the Japan Light Motor Vehicle and Motorcycle Association and JAIA. Sales of imported EVs surged by more than 60pc on the year to around 2,400 units in May. But this is not because of the US tariffs on automobiles, according to the representative of JAIA who spoke to Argus . There was some anticipation that a number of foreign EV producers, especially European manufacturers, may divert deliveries meant for the US to Japan, following the US' across-the-board tariff on automobile imports. But the tariff had almost no impact on May sales, the JAIA representative said, adding that JAIA's member firms including major European brands share a similar view. The increase in foreign-brand EV sales in May can be mostly attributed to robust demand from Japanese consumers, according to JAIA. Foreign manufactures including China's BYD, Germany's BMW, South Korea's Hyundai, and Sweden's Volvo reported a rise in sales, JAIA said. Tesla did not disclose its sales volumes in Japan. Demand for foreign-brand EVs has risen over the past year. Its share in total domestic EV sales jumped to 63pc in May from 39pc in the same period in 2024. Foreign-brand EVs gained popularity in the Japanese market mostly because they offer a wider variety of EV models compared with domestic manufacturers, according to JAIA. Meanwhile, the country's domestic brand EV sales stood at around 1,400 units in May, down sharply by around 40pc from a year earlier. This is partly driven by a decrease in sales of Nissan's Sakura, a top-selling domestic model, which almost halved on the year to 858 units. By Yusuke Maekawa Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
US vehicle sales drop in May on tariff pressures
US vehicle sales drop in May on tariff pressures
Houston, 4 June (Argus) — Domestic sales of light vehicles in May dropped to their lowest level since the beginning of the year, reflecting a falloff in purchasing after the last of the new US administration's import tariffs targeting the automotive industry went into effect at the beginning of the month. Sales of light vehicles — trucks and cars — fell to a seasonally adjusted annual rate of 15.6mn units in May, down from 17.3mn in April, the Bureau of Economic Analysis reported Wednesday. Last month's total was below May 2024's annualized rate of 15.8mn and the lowest since this January's 15.5mn pace. Consumers had rushed to buy ahead of US president Donald Trump implementing 25pc tariffs on imports of vehicles on 3 April and imports of parts on 3 May, with the latter expected to increase domestic automaker's production costs that would be passed on to consumers. Automakers now will have to contend with higher costs for steel and aluminum after Trump on Tuesday doubled Section 232 import tariffs on those products and their derivatives to 50pc. Borrowing costs also remain high for buyers, further disincentivizing large-scale purchases, as the US Federal Reserve continues to hold its target interest rate at 4.25-4.5pc on concerns that tariff-related uncertainty may fuel inflation and lead to a slowdown in economic growth. Truck sales in May dropped by 9.1pc to a 13mn unit annual rate, while sales of cars dropped by 10pc to a 2.6mn unit rate in the same timeframe. Domestic vehicle production in April fell to a seasonally adjusted annual rate of 10.16mn from an upwardly revised 10.21mn in in March, according to US Federal Reserve data. That compares with 10.57mn in April 2024. Auto assemblies are reported with a one-month lag to sales. By Alex Nicoll Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Mexico may retaliate on steel, aluminum tariffs
Mexico may retaliate on steel, aluminum tariffs
Houston, 4 June (Argus) — Mexico could impose retaliatory tariffs on the US next week should negotiations over the US doubling steel and aluminum tariffs effective today fail, said President Claudia Scheinbaum. Sheinbaum in her daily news conference said the 50pc tariffs are unfair, unsustainable, and not legal given existing trade agreements between the two countries. The countries have made headway on negotiations to amend current trade prior to the US increasing the tariffs from 25pc to 50pc effective today. Mexico was previously exempted from section 232 tariffs under the US–Mexico–Canada Agreement (USMCA). "Our responsibility firstly is to protect Mexican workers and second to protect the industry," Sheinbaum said. Sheinbaum meet today with Mexico steel and aluminum groups, Canacero and Canalum, to discuss how potential retaliatory measures will be implemented. "It is not eye-for-eye," Sheinbaum said. "We are protecting our industry." Mexico in 2018 imposed 7-25pc retaliatory tariffs on the US after the imposition of the original section 232 tariffs. US president Donald Trump on 30 May announced the doubling of existing global section 232 steel and import tariffs effective today. The UK was the only country exempted from the increase, remaining at 25pc. As a result of USMCA negotiations, Sheinbaum said Mexico has taken steps to reduce its own imports after US lawmakers in 2023 accused Mexico of passing through to the US steel from tariffed Asian countries. By Marialuisa Rincon Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
US Midwest premium may surge on Al tariff hike
US Midwest premium may surge on Al tariff hike
Houston, 4 June (Argus) — The US Midwest premium for P1020 aluminum, the bellwether used to price primary and scrap forms of the light metal, may set increasingly higher records following US president Donald Trump's decision to hike tariffs on aluminum imports to 50pc. Trump on Tuesday signed an executive order that doubles Section 232 tariffs on aluminum and steel to 50pc, following through with plans that he first announced on 30 May. That move comes after he initially raised the protectionist duties to 25pc from 10pc on 12 March, while also stripping away special adjustments for Canada, Mexico and a handful of other countries. Argus ' weekly P1020 Midwest premium rose by as much as 18¢/lb in the wake of Trump first touting 25pc tariffs on Canada — which he later walked back — peaking at a record 42.38¢/lb in early March and eclipsing the previous record of 40¢/lb set back in the Civid-19 pandemic era. Since then, the Midwest premium has retreated, last being assessed at 38¢/lb prior to the 50pc tariff announcement. Still, that level represents a 58pc increase over where the price was in late January before Trump began rolling out tariffs on most trading partners. Domestic mills and scrap merchants anticipate that the Midwest premium will continue to surge in the coming weeks, which already has been reflected in offers and the futures markets as some suppliers began pricing in tariff-related costs at the start of the week. Some sources told Argus the Midwest premium could rise as high as 65-70¢/lb, while others were more reserved with their estimates, saying they would expect an increase to between 55-60¢/lb. Argus has heard of an offer as high as 60¢/lb this week, but against minimal buying interest because of the uncertainty. Regardless, all who were surveyed foresee the price setting fresh records daily on its march up, as the market enters uncharted territory. Expectations for a higher premium further have been underpinned by other indexed-reference premiums moving up by 15¢/lb over the past two days, while futures contracts at the start of the week were signaling the premium would rise through July to 60.5¢/lb before beginning to give up gains. The full impact from Trump's tariff hike on US aluminum markets has yet to be realized, but at least one mill expressed concern that any further cost pressures may constrict downstream demand for aluminum products. Scrap merchants foresee buying spreads widening but were split on by how much they may expand. The US remains heavily dependent on imports of primary aluminum, with industry group Aluminum Association saying that domestic smelting capacity of primes is not enough to cover consumption — leaving a shortfall of 4mn metric tonnes (t) that must be sourced from other countries, primarily Canada. By Alex Nicoll and Jenna Baer Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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