Year-by-year annual average price for neodymium in USD/kg, sourced from U.S. Geological Survey, Mineral Commodity Summaries 2025. Neodymium oxide (Nd₂O₃), 99% REO, Chinese export price.
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Neodymium is irreplaceable in EV motors and wind turbines. China controls 85% of global rare earth processing, making supply security a top priority for the U.S. and allies. Demand is driven primarily by NdFeB permanent magnets for EV motors, Wind turbine direct-drive generators, Defense guidance systems and sensors. Supply is concentrated in China, United States, Myanmar, so output disruptions or trade-policy shifts in those countries are the main long-run drivers of Neodymium prices.
Neodymium prices fell -21.7% from 2023's $60 per USD/kg to $47 per USD/kg in 2024.
Neodymium prices fell -53.8% from 2022's $130 per USD/kg to $60 per USD/kg in 2023.
Neodymium prices rose +44.4% from 2021's $90 per USD/kg to $130 per USD/kg in 2022. That was the highest 2022 reading in 10 years.
Neodymium prices rose +114.3% from 2020's $42 per USD/kg to $90 per USD/kg in 2021. That was the highest 2021 reading in 8 years.
Neodymium prices rose +5.0% from 2019's $40 per USD/kg to $42 per USD/kg in 2020.
Movement summaries above are calculated directly from the annual averages shown in the table. Critical Minerals HQ does not attribute price moves to specific events except where backed by sourced reporting.
| Year | Average Price (USD/kg) | YoY Change |
|---|---|---|
| 2024 | $47 | -21.7% |
| 2023 | $60 | -53.8% |
| 2022 | $130 | +44.4% |
| 2021 | $90 | +114.3% |
| 2020 | $42 | +5.0% |
| 2019 | $40 | -38.5% |
| 2018 | $65 | +30.0% |
| 2017 | $50 | +31.6% |
| 2016 | $38 | -15.6% |
| 2015 | $45 | -18.2% |
| 2014 | $55 | -15.4% |
| 2013 | $65 | -45.8% |
| 2012 | $120 | -57.1% |
| 2011 | $280 | +600.0% |
| 2010 | $40 | +300.0% |
| 2009 | $10 | -16.7% |
| 2008 | $12 | +20.0% |
| 2007 | $10 | +25.0% |
| 2006 | $8.00 | +14.3% |
| 2005 | $7.00 | +16.7% |
| 2004 | $6.00 | +20.0% |
| 2003 | $5.00 | +25.0% |
| 2002 | $4.00 | +0.0% |
| 2001 | $4.00 | -20.0% |
| 2000 | $5.00 | — |
Source: U.S. Geological Survey, Mineral Commodity Summaries 2025. Neodymium oxide (Nd₂O₃), 99% REO, Chinese export price
The most recent annual average we track is $47 per USD/kg for 2024. Live spot prices are shown on the Neodymium live-price page.
down -21.7% — from $60 per USD/kg in 2023 to $47 per USD/kg in 2024.
up +17.5% — from $40 per USD/kg in 2019 to $47 per USD/kg in 2024.
down -14.5% — from $55 per USD/kg in 2014 to $47 per USD/kg in 2024.
Neodymium is irreplaceable in EV motors and wind turbines. China controls 85% of global rare earth processing, making supply security a top priority for the U.S. and allies. Demand is driven primarily by NdFeB permanent magnets for EV motors, Wind turbine direct-drive generators, Defense guidance systems and sensors. Supply is concentrated in China, United States, Myanmar, so output disruptions or trade-policy shifts in those countries are the main long-run drivers of Neodymium prices.
The highest annual average neodymium price in our recorded series was $280 per USD/kg in 2011.
U.S. Geological Survey, Mineral Commodity Summaries 2025. Neodymium oxide (Nd₂O₃), 99% REO, Chinese export price