The contradiction between supply and demand has intensified, causing overseas rare earth prices to soar by more than double.

Recently, a research institution claimed that the prices of rare earths overseas, with Europe as a representative, have risen sharply, and traders have strong reluctance to sell. Data released by the international energy and commodity price assessment agency Argus on May 6th showed that the monthly assessment price of 99.5% dysprosium oxide in Europe jumped from $250/kg- $310/kg a month ago to $700/kg- $1000/kg. The onshore price of 99.99% terbium oxide in Europe also rose from $930/kg- $1000/kg at the beginning of April to $2000/kg- $4000/kg. The price increases and levels of dysprosium oxide and terbium oxide are the highest in history since Argus launched the two product price assessments in 2015. The head of the Argus non-ferrous metals analysis team stated that the main reason for this increase was the implementation of export controls on medium and heavy rare earths by China at the beginning of last month, causing overseas buyers to be unable to purchase rare earth products, resulting in low inventory, panic quoting, but the actual transactions were not many.