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NdPr oxide

NdPr oxide: suppliers outside China, prices, oxide vs metal

Procurement and supply-chain buyers sourcing NdPr oxide or NdPr metal outside China

By the StrategicRawMaterial team · · 9 min read

What is NdPr oxide used for?

NdPr oxide is a separated mixture of neodymium oxide and praseodymium oxide, used as feed for neodymium-iron-boron (NdFeB) permanent magnets.[2][15] The US Geological Survey says magnets are the leading global use of rare earths.[1] Neo Performance Materials, for example, has described the NdPr oxide from its Estonian plant as feed for NdFeB magnetic materials and magnets used in cars, factory automation, home appliances and pumps.[2]

On the way to a magnet, the oxide is converted to metal.[16]

Who supplies NdPr oxide outside China?

As of 29 October 2026, we found product-level evidence that six companies outside China produce or supply NdPr oxide. We checked each one against its own filing, release or product page.

NdPr oxide producers and suppliers outside China
CompanyWhereLatest disclosed outputKnown buyers and contracts
Lynas Rare Earths (Australia)Mt Weld (mine), Australia; processing at Kalgoorlie and at Kuantan, Malaysia[3][4]2,082 tonnes NdPr ready for sale in the September 2026 quarter (reported on 29 October), against 1,857 tonnes in the June quarter.[3] 7,260 tonnes in the year to June 2026 (FY26), up from 6,558 tonnes in FY25.[4]Japan Australia Rare Earths (JARE): firm offtake of 5,000 tonnes a year of NdPr to 2038, with a US$110/kg floor.[5] JS Link: Lynas will supply "rare earth materials" to JS Link's magnet factories "under an exclusive supply arrangement until January 2038"; the filing names no products or tonnages.[3][6]
MP Materials (US)Mountain Pass, California[7]840 tonnes NdPr produced in Q2 2026, up from 597 tonnes a year earlier. Sales of 1,006 tonnes, with metal counted as oxide equivalent, including MP's sales to its own magnet business.[7]US Department of War: US$110/kg price floor from October 2025 to December 2035. MP stopped all sales to China in July 2025.[8] Sumitomo Corporation: agreed in February 2023 to act as exclusive distributor of MP's NdPr oxide in Japan.[9]
Energy Fuels (US)White Mesa Mill, Utah[10]Says the mill has produced separated NdPr "at commercial scale".[10] Capacity 1,000 tonnes a year as of May 2026. No volumes disclosed.[11]A memorandum of understanding of August 2025 with the US magnet maker Vulcan Elements, under which the two intend to negotiate long-term supply agreements.[12]
Solvay (Belgium)Plant not named for NdPr[13]Announced supply of NdPr oxide to Noveon from 2026. No volumes disclosed. Solvay began commercial production of "rare earths for permanent magnets" at La Rochelle, France, in April 2025, without naming the products.[13][14]Noveon (US magnets): NdPr, dysprosium and terbium oxides from 2026, partly from end-of-life materials.[13]
IREL (India) LimitedIndia. IREL's product page lists "Nd-Pr Oxalate (Dry)/Oxide" without naming the plant; its Rare Earths Division is at Aluva[15]Lists Nd-Pr oxide as a product, 99.9% on a rare earth oxide basis. No volumes or capacity disclosed.[15]Not disclosed
Neo Performance Materials (Canada), plant NPM SilmetSillamäe, Estonia[2]Output not disclosed. The latest Neo statement we found naming NdPr oxide as a Silmet product is from March 2022.[2] In October 2026, Neo said its "Silmet 2.0" project would triple the plant's total separation capacity.[16] Neo reports its third quarter on 10 November 2026.[25]Neo's own magnet business, per the 2022 statement[2]

Lynas and MP compared. Only two of the six publish NdPr volumes. For April to June 2026, the latest quarter both have reported, Lynas's quarterly NdPr output (1,857 t) was more than twice MP's (840 t), though the two count output differently: Lynas reports NdPr "ready for sale", MP "finished and packaged NdPr oxide". Lynas then made 2,082 t in the September quarter; MP reports that quarter on 5 November.[3][7][24] For a buyer, the other four are harder to size: you will need to ask them directly what tonnage they can commit.

Samples, not yet commercial supply

  • USA Rare Earth made commercial-grade NdPr oxide samples from recycled magnet swarf at Wheat Ridge, Colorado. It announced them on 14 July 2026 and said it would send them to its UK subsidiary, Less Common Metals, for qualification.[17]
  • Ucore shipped NdPr oxide qualification samples to magnet makers in June 2026.[18]

Still building. Among the separation plants under construction outside China, Iluka's Eneabba refinery in Western Australia is designed to make 5,500 tonnes of NdPr oxide a year. It was 65% complete at the end of September 2026, with commissioning planned for 2027.[28][29]

How is NdPr oxide priced?

As of 29 October 2026, we found no exchange-traded price for NdPr oxide. Lynas says it sells at a premium to a "market index", MP's price-support agreement with the US government is settled against a defined "benchmark", and some contracts add a floor. Neither filing names the price assessment used.[3][8]

Reference prices

  • Who publishes them. Price-reporting agencies, among them Argus and Shanghai Metals Market (SMM), assess NdPr oxide.[1][20] Since December 2025, Argus has also published a fortnightly delivered-US NdPr oxide price.[19]
  • The basis matters. The same week can show different prices for different delivery terms. On 23 October 2026, SMM quoted NdPr oxide (it writes "Pr-Nd oxide") at US$115–127/kg FOB and US$108–120/kg CIF Rotterdam.[20] SMM does not name the FOB port or the purity, so check both before comparing an offer with this range.
  • Recent history. The USGS publishes annual averages of Argus's FOB price for NdPr oxide, 99% minimum. The average fell from US$124/kg in 2022 to US$55/kg in 2024, and is estimated at US$69/kg for 2025.[1]
Average NdPr oxide price, 99% minimum, FOB, US$ per kg (USGS, from Argus)
20212022202320242025 (estimate)
92124755569

Source: USGS, Mineral Commodity Summaries 2026.[1]

Floors: US$110/kg in two big contracts

  • MP Materials and the US Department of War. Each quarter from 1 October 2025 to 31 December 2035, the department pays MP the shortfall between US$110/kg and a "Benchmark Quarterly Average Volume Weighted Price", as defined in the agreement. This covers MP's NdPr products, including concentrate, oxide and metal. Once MP's planned 10X magnet plant reaches full capacity, MP pays the department 30% of any amount by which that price exceeds US$110.[8] MP's filing does not say which assessment the benchmark uses. In Q2 2026, MP recorded US$17.6 million of income under this price protection agreement.[7]
  • Lynas and JARE. Lynas's updated offtake with Japan Australia Rare Earths carries a US$110/kg NdPr floor.[5]

The two floors work differently. In MP's case, the Department of War pays the shortfall against a benchmark, not MP's customers,[8] so our reading is that a buyer of MP's oxide still pays the price it negotiates. In Lynas's case, the US$110/kg floor applies to its sales to Japanese industry, and the upside is shared: where Lynas achieves more than US$150/kg, 30% of the excess, capped at US$10 million a year, goes to JARE.[5]

Premiums over an index

In the September 2026 quarter, Lynas's average selling price across all its rare earth products was a record A$102.1 per kilogram, up from A$98.2 in June. Lynas attributed the rise from a year earlier to better market prices, more bundling of light and heavy rare earths for magnet customers, and "a further increase in the premium achieved above the market index, including as a result of floor price agreements which now cover over 50% of Lynas' production".[3] This is an average across all products, not an NdPr price. It does show that Lynas sells at a premium to a market index, and that floors now apply to more than half of its output. Lynas's sales revenue also excludes "price adjustments on quotational sales".[3] We read that as a sign that some sales are invoiced provisionally and settled against a later price.

What to align before comparing two offers

This is our checklist, not a published standard. Before comparing two offers, put them on the same basis for:

  • purity and how it is stated (IREL's spec, for example, is "99.9% purity on REO basis", with neodymium oxide at 70–85% and praseodymium oxide at 15–30%);[15]
  • delivery terms (FOB, CIF or delivered) and location;
  • form: oxide or metal, and whether the price is per kilogram of product or of oxide equivalent;
  • the reference price, the averaging period, and any floor or premium;
  • origin, if your customer or a government programme requires material from outside China.

Where can I buy NdPr oxide?

The published routes to NdPr oxide made outside China are long-term contracts with the producers and their distributors. Much of Lynas's volume, the largest reported here, is already committed.

  • Lynas. The JARE offtake of 5,000 tonnes a year[5] equals about 69% of Lynas's FY26 NdPr output of 7,260 tonnes. This is our calculation (5,000 ÷ 7,260), and it assumes JARE takes the full amount. Lynas will also supply rare earth materials to JS Link's magnet factories at commercial prices "under an exclusive supply arrangement until January 2038"; it has not said which products or how much.[3][4][6]
  • MP Materials. In February 2023, Sumitomo Corporation agreed to act as the exclusive distributor of MP's NdPr oxide in Japan.[9] MP has sold nothing to China since July 2025.[8]
  • Solvay, Energy Fuels, IREL and Neo. Solvay has a named customer (Noveon), and Energy Fuels' published NdPr arrangement is a memorandum of understanding.[12][13] In the sources we checked, IREL and Neo name no external NdPr oxide buyers. Ask these four directly about available tonnage.
  • From China. NdPr oxide does not need a Chinese export licence as an element. As of 29 October 2026, seven other rare earths need a MOFCOM licence, and controls on five more are suspended until 10 November 2026.[21][26][27] The seven are samarium, gadolinium, terbium, dysprosium, lutetium, scandium and yttrium, listed in April 2025.[21]
  • Before you sign. Ask whether the seller separates the oxide or only trades it. So few companies separate NdPr oxide outside China that a trader should be able to tell you whose oxide it is selling.

Through this marketplace. strategicrawmaterial.com is a closed marketplace that trades NdPr oxide and NdPr metal, among other materials. A buyer joins after passing KYC/KYB checks, as every company must. Each offer's material is verified before buyers can bid, and trading is anonymous until there is a match.

Request access to source NdPr oxide from suppliers outside China.

What is the difference between NdPr oxide and NdPr metal?

NdPr oxide is the chemical product of rare earth separation: a mixture of neodymium oxide (Nd2O3) and praseodymium oxide (Pr6O11).[15] NdPr metal is made from the oxide in a separate step, called metallization. Neo describes this step as the "conversion of separated light and heavy rare earth oxides into metals".[16] Aclara, for example, opened a demonstration plant with CAP in Talcahuano, Chile, on 7 October 2026 to convert NdPr oxide to metal by molten salt electrolysis.[22] The metal is then alloyed for NdFeB magnets. MP Materials, for example, makes rare earth metal, alloy and magnets at its plant in Fort Worth, Texas.[7]

NdPr oxide (Nd2O3 and Pr6O11) is the product of separation; metallization reduces it to NdPr metal, which alloy and magnet makers buy. 1 kg of oxide yields about 0.85 kg of metal (our calculation, before process losses). SMM FOB quotes on 23 October 2026: oxide US$115–127/kg, metal US$136–144/kg; US import duty free on oxide, 5% on metal. Per kg of contained NdPr, the oxide mid-point of US$121 works out at about US$142, close to the metal mid-point of US$140 (our calculation).
NdPr oxide and NdPr metal compared
NdPr oxideNdPr metal
What it isSeparated Nd2O3 and Pr6O11. IREL's spec: 70–85% Nd2O3, 15–30% Pr6O11[15]Metal made from the oxide[16]
Who buys itMetal makers, including magnet makers with their own metal step[7][16]Alloy and magnet makers[7]
NdPr content (our calculation)About 0.85 kg of metal per kg of oxideAbout 1.17–1.18 kg of oxide per kg of metal
SMM quote, FOB, 23 Oct 2026US$115–127/kg[20]US$136–144/kg ("Pr-Nd alloy")[20]
SMM quote, CIF Rotterdam, 23 Oct 2026US$108–120/kg[20]US$140–142/kg[20]
US import duty (normal trade relations rate, end-2025)Free (HTS 2846.90.2000, rare-earth oxides)[1]5% (HTS 2805.30.0000, rare-earth metals)[1]
Chinese export licenceNot needed for neodymium or praseodymium as elements[21]

How much oxide is in a kilogram of metal?

Our calculation, from standard atomic weights (Nd 144.242, Pr 140.908, O 15.999):[23]

  • Nd2O3 is 85.7% neodymium by weight. Pr6O11 is 82.8% praseodymium.
  • Across IREL's specification range,[15] 1 kg of NdPr oxide contains 0.848–0.853 kg of NdPr metal. So 1 kg of metal needs 1.17–1.18 kg of oxide, before any process losses.

Producers may use other conversion factors. MP Materials counts 100 tonnes of metal sold as 125 tonnes of oxide equivalent, a ratio of 1.25. Before the first quarter of 2026 it used 1.20, and earlier periods were not restated.[7] MP says it moved to 1.25 "to better reflect current contractual production yields".[7] Our reading is that its factor covers conversion losses as well as chemistry. When a supplier quotes "oxide equivalent", ask which factor it uses.

Comparing an oxide price with a metal price

On SMM's FOB mid-points of 23 October 2026, metal (US$140/kg) was quoted about 16% above oxide (US$121/kg). Per kilogram of contained NdPr, the oxide works out at about US$142 (US$121 ÷ 0.85), close to the metal quote. Both figures are our calculations from SMM's ranges.[20] The ranges overlap, so treat this as indicative. The comparison still shows why offers should be compared per kilogram of contained NdPr, not per kilogram of product.

Sources

  1. US Geological Survey, Mineral Commodity Summaries 2026: Rare Earths, February 2026. Leading global use; NdPr oxide average prices 2021–2025 (FOB, from Argus); US tariff lines. usgs.gov (opens in a new tab)
  2. Neo Performance Materials, "Rare earth processing plant earns gold medal", 28 March 2022. neomaterials.com (opens in a new tab)
  3. Lynas Rare Earths, Quarterly Report for the period ended 30 September 2026, filed 29 October 2026. ASX filing (opens in a new tab)
  4. Lynas Rare Earths, Appendix 4E and 2026 Annual Report, filed 26 August 2026. ASX filing (opens in a new tab)
  5. Lynas Rare Earths, ASX announcement on the enhanced JARE agreement, filed 10 March 2026. asx.com.au (opens in a new tab)
  6. Lynas Rare Earths, ASX announcement on the JS Link partnership, filed 7 July 2026. asx.com.au (opens in a new tab)
  7. MP Materials, "MP Materials Reports Second Quarter 2026 Results", 6 August 2026. mpmaterials.com (opens in a new tab)
  8. MP Materials, Form 10-Q for the quarter ended 30 September 2025, Notes 2 and 3. sec.gov (opens in a new tab)
  9. Sumitomo Corporation, exclusive distribution of MP Materials' NdPr oxide in Japan, 22 February 2023. sumitomocorp.com (opens in a new tab)
  10. Energy Fuels, Form 10-Q for the quarter ended 30 June 2026. sec.gov (opens in a new tab)
  11. Energy Fuels, "Energy Fuels Announces Q1 2026 Results", 6 May 2026. energyfuels.com (opens in a new tab)
  12. Energy Fuels, "Energy Fuels and Vulcan Elements Join Forces to Advance U.S. Rare Earth Magnet Security", 26 August 2025. energyfuels.com (opens in a new tab)
  13. Solvay, "Noveon and Solvay forge partnership for light and heavy rare earth materials supply", 12 November 2025. solvay.com (opens in a new tab)
  14. Solvay, "Solvay advances European rare earths production through capacity expansion", 8 April 2025. solvay.com (opens in a new tab)
  15. IREL (India) Limited, Rare Earths product page, checked 27 October 2026. irel.co.in (opens in a new tab)
  16. Neo Performance Materials, "Neo's European Integrated Magnet Project Selected for €126 Million Grant Under EU Innovation Fund", 19 October 2026. newswire.ca (opens in a new tab)
  17. USA Rare Earth, "USA Rare Earth Produces Commercial-Grade Dysprosium Oxide and Neodymium-Praseodymium Oxide Samples from Recycled Magnet Material at Wheat Ridge Facility", 14 July 2026. globenewswire.com (opens in a new tab)
  18. Ucore Rare Metals, "Ucore Secures Additional US$4.6 Million from U.S. Department of War to Advance Samarium and Gadolinium Refining", 14 September 2026. ucore.com (opens in a new tab)
  19. Argus, "Argus expands critical rare earth pricing to US", 11 December 2025. argusmedia.com (opens in a new tab)
  20. Shanghai Metals Market (SMM), Rare Earth Ex-China Weekly Review, 23 October 2026. metal.com (opens in a new tab)
  21. MOFCOM and GAC, Announcement No. 18 of 2025, export controls on some medium and heavy rare earth items, 4 April 2025. mofcom.gov.cn (opens in a new tab)
  22. Aclara Resources, "Aclara and CAP inaugurate metals and alloys demonstration plant", PR Newswire, 7 October 2026. prnewswire.com (opens in a new tab)
  23. IUPAC Commission on Isotopic Abundances and Atomic Weights (CIAAW), standard atomic weights, checked 27 October 2026. ciaaw.org (opens in a new tab)
  24. MP Materials, "MP Materials Announces Date for Third Quarter 2026 Financial Results and Webcast", 8 October 2026. mpmaterials.com (opens in a new tab)
  25. Neo Performance Materials, "Media Advisory: Third Quarter 2026 Earnings Release and Conference Call", 21 October 2026. neomaterials.com (opens in a new tab)
  26. MOFCOM and GAC, Announcement No. 70 of 2025, suspension of Announcements Nos. 55–58, 61 and 62, 7 November 2025. mofcom.gov.cn (opens in a new tab)
  27. MOFCOM and GAC, Announcement No. 57 of 2025, export controls on some medium and heavy rare earth items, 9 October 2025. mofcom.gov.cn (opens in a new tab)
  28. Iluka Resources, Quarterly Review to 30 September 2026, ASX, 28 October 2026. ASX filing (opens in a new tab)
  29. Iluka Resources, 2026 Half Year Results Presentation, ASX, 19 August 2026. ASX filing (opens in a new tab)