Year-by-year annual average price for thulium in USD/kg, sourced from U.S. Geological Survey, Mineral Commodity Summaries 2025. Thulium oxide (Tm₂O₃), 99% REO, Chinese export price.
Thulium's unique properties as a portable radiation source and surgical laser material make it strategically important for defense and medicine despite its rarity. Demand is driven primarily by Portable X-ray sources (thulium-170), Surgical lasers for ophthalmology, High-performance magnets. Supply is concentrated in China, Australia, United States, so output disruptions or trade-policy shifts in those countries are the main long-run drivers of Thulium prices.
Thulium prices held roughly steady at $3,900 per USD/kg (2023 average: $3,900) in 2024.
Thulium prices fell -7.1% from 2022's $4,200 per USD/kg to $3,900 per USD/kg in 2023.
Thulium prices rose +10.5% from 2021's $3,800 per USD/kg to $4,200 per USD/kg in 2022. That was the highest 2022 reading in 8 years.
Thulium prices rose +8.6% from 2020's $3,500 per USD/kg to $3,800 per USD/kg in 2021. That was the highest 2021 reading in 6 years.
Thulium prices held roughly steady at $3,500 per USD/kg (2019 average: $3,500) 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 | $3,900 | +0.0% |
| 2023 | $3,900 | -7.1% |
| 2022 | $4,200 | +10.5% |
| 2021 | $3,800 | +8.6% |
| 2020 | $3,500 | +0.0% |
| 2019 | $3,500 | -2.8% |
| 2018 | $3,600 | +5.9% |
| 2017 | $3,400 | +6.3% |
| 2016 | $3,200 | -8.6% |
| 2015 | $3,500 | -12.5% |
| 2014 | $4,000 | -20.0% |
| 2013 | $5,000 | -37.5% |
| 2012 | $8,000 | -33.3% |
| 2011 | $12,000 | +242.9% |
| 2010 | $3,500 | +16.7% |
| 2009 | $3,000 | -6.3% |
| 2008 | $3,200 | +14.3% |
| 2007 | $2,800 | +7.7% |
| 2006 | $2,600 | +8.3% |
| 2005 | $2,400 | +9.1% |
| 2004 | $2,200 | +4.8% |
| 2003 | $2,100 | +5.0% |
| 2002 | $2,000 | +0.0% |
| 2001 | $2,000 | +0.0% |
| 2000 | $2,000 | — |
Source: U.S. Geological Survey, Mineral Commodity Summaries 2025. Thulium oxide (Tm₂O₃), 99% REO, Chinese export price
The most recent annual average we track is $3,900 per USD/kg for 2024. Live spot prices are shown on the Thulium live-price page.
up +0.0% — from $3,900 per USD/kg in 2023 to $3,900 per USD/kg in 2024.
up +11.4% — from $3,500 per USD/kg in 2019 to $3,900 per USD/kg in 2024.
down -2.5% — from $4,000 per USD/kg in 2014 to $3,900 per USD/kg in 2024.
Thulium's unique properties as a portable radiation source and surgical laser material make it strategically important for defense and medicine despite its rarity. Demand is driven primarily by Portable X-ray sources (thulium-170), Surgical lasers for ophthalmology, High-performance magnets. Supply is concentrated in China, Australia, United States, so output disruptions or trade-policy shifts in those countries are the main long-run drivers of Thulium prices.
The highest annual average thulium price in our recorded series was $12,000 per USD/kg in 2011.
U.S. Geological Survey, Mineral Commodity Summaries 2025. Thulium oxide (Tm₂O₃), 99% REO, Chinese export price