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January 20, 2026
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4 minute read
China vs ex-China: A tale of two very different outlooks for rare earths
When discussing the outlook for rare earths supply and demand, it can be a mistake to extrapolate a single outlook onto all regions globally. In the case of China versus the ex-China market, we continue to see a tale of two very different outlooks unfolding over the medium- to long-term.
For China, as the world’s largest producer of NdFeB magnets, we expect the nation will increasingly import surplus rare earth concentrate and oxide production from the rest of the world in an attempt to satisfy growing demand from domestic magnet makers.
