Light rare earths are core materials for neodymium-iron-boron permanent magnet materials and are important strategic mineral resources that support the development of fields driving new quality productive forces, such as new energy vehicles, wind power generation, and industrial robots.

Since mid-September, praseodymium and neodymium have been at high prices in the light rare earth market, while other items have remained flat. According to data from Shanghai Metals Market (SMM), on the 22nd, the price of praseodymium-neodymium oxide rose by 5,000 yuan (approximately 117,500 yen) per ton in one day, and praseodymium-neodymium metal rose by 7,500 yuan (approximately 176,000 yen) per ton. On the following day, the 23rd, prices slightly fell back, but still remain at high levels compared to recent times.

Yang Jiawen (ヤン・ジアウェン), a rare earth industry analyst at SMM, stated that "this price increase is mainly due to the decrease in low-priced spot inventory in the market and upstream smelting companies maintaining higher asking prices." (Source/People's Daily Online Japanese Edition, Editor/KS)