Via Metal Miner Month over month, rare earth metals witnessed new price lows not seen since September 2020. While neodymium oxide and praseodymium oxide witnessed the sharpest drop out of all of the components of the Rare Earths MMI Monthly Metals Index, the index fell by 5.08% overall. But with price points nearing pre-pandemic lows, the index may have finally found a bottom following six straight months of declines.
Experts anticipate that rare earth prices will need to grow substantially to support the development of new rare earth projects, which usually require higher prices to be economically feasible, the recent hurdles notwithstanding. Challenges to Rare Earth Metal Prices and Market Recovery An abundance of rare earth metals is one of the main causes of price drops. According to a U.S.