Lanthanum Price Today: Metal Benchmark & Market Outlook

Last updated: 3 September 2026 · Updated monthly · Source: Shanghai Metals Market (SMM)

The lanthanum price stands at $3,192.04 per tonne — equivalent to $3.19 per kilogram — for lanthanum metal on the Shanghai Metals Market (SMM) industrial benchmark as of 3 September 2026, up 0.52% from $3,175.54/tonne ($3.18/kg) at the August benchmark. The VAT-excluded, delivered-to-works China price ranged from $3,117.81 to $3,266.28 per tonne ($3.12–$3.27/kg) intraday on 3 September. Lanthanum is among the least expensive of the commercially traded rare earth elements, a product of structural oversupply from Chinese mining operations where lanthanum output significantly exceeds current industrial demand.

Lanthanum is a light rare earth element and the first of the lanthanide series. It is produced in substantial volumes as a co-product of neodymium and praseodymium mining — the magnet rare earths that drive the economics of most Chinese and Western rare earth operations. Because lanthanum cannot be separated from these operations without being produced, supply is structurally tied to magnet rare earth output regardless of lanthanum-specific demand. For background on lanthanum’s properties, see the lanthanum overview and the lanthanum uses guide.

Current Lanthanum Price

The lanthanum price market follows the same oxide-versus-metal split seen across the rare earth complex, though the absolute price levels are substantially lower than heavy rare earths. Industrial buyers primarily purchase lanthanum oxide for catalyst and glass applications; lanthanum metal is used in battery alloys, hydrogen storage, and specialist metallurgical applications. The SMM benchmark tracks the metal.

The gap between lanthanum oxide and metal pricing reflects the processing cost of metal reduction. At current price levels, the economics of lanthanum processing remain marginal; most value in the lanthanum supply chain is captured at the oxide stage rather than through further refining to metal.

Lanthanum Price History

Lanthanum’s price history is defined by two events: the 2011 Chinese export quota crisis, which briefly drove oxide prices above $100/kg, and the subsequent collapse that left lanthanum trading at levels that made dedicated recovery economics extremely difficult. The element has not meaningfully recovered from the post-2012 price crash, reflecting persistent structural oversupply from Chinese light rare earth operations.

What Is Driving Lanthanum Prices

Lanthanum demand is anchored in three mature industrial end-uses. Fluid catalytic cracking (FCC) catalysts used in oil refinery operations represent the largest volume application — lanthanum-doped zeolites improve catalyst stability and selectivity in gasoline and diesel production. Optical glass for camera lenses, telescope objectives, and precision instruments is the second major application, where lanthanum oxide improves refractive index without increasing dispersion. Nickel-metal hydride (NiMH) batteries, used in hybrid vehicles and consumer electronics, consume lanthanum in the negative electrode alloy.

The supply dynamic is the dominant price variable. Lanthanum is co-produced in fixed ratios with neodymium, praseodymium, cerium, and other light rare earths at Chinese Bayan Obo and southern ionic clay operations. As long as magnet rare earth demand drives mining output, lanthanum is produced regardless of its own market conditions. USGS Rare Earths Statistics estimates lanthanum constitutes approximately 25–30% of total rare earth oxide production by weight — making it one of the most abundant rare earths in the production mix and a persistent oversupply candidate.

The demand trajectory for lanthanum’s established end-uses is modestly negative in the medium term. Petroleum refining demand for FCC catalysts faces long-run pressure from the energy transition reducing gasoline consumption. NiMH batteries are being displaced by lithium-ion technology in new applications. The price outlook therefore depends heavily on whether emerging applications can absorb the structural surplus.

Lanthanum and the Hydrogen Economy

The most significant potential demand catalyst for lanthanum is its role in hydrogen storage and fuel cell applications. Lanthanum-nickel alloys (LaNi₅) absorb and release hydrogen reversibly at near-ambient conditions, making them a candidate material for solid-state hydrogen storage in fuel cell vehicles and stationary energy systems. At commercial deployment scale, this application could materially increase lanthanum demand from current baselines — representing a structural shift for an element that has otherwise seen declining demand from its legacy end-uses.

For detailed analysis of lanthanum’s hydrogen economy applications and the supply implications, see the lanthanum hydrogen applications guide. The timeline for commercial-scale hydrogen storage deployment remains uncertain, but the application provides the most credible long-term price upside scenario for lanthanum of any element in the light rare earth complex.

Western Lanthanum Supply Development

Western rare earth projects produce lanthanum as an unavoidable co-product of light rare earth operations. MP Materials at Mountain Pass, California, produces lanthanum concentrate as part of its bastnäsite processing circuit; finding end-use markets for this material is an active commercial challenge. Australian and Canadian light rare earth projects face the same structural issue — lanthanum output will be proportional to NdPr production whether markets exist for it or not.

This dynamic means Western lanthanum supply will grow automatically as Western rare earth projects advance toward production, without requiring any lanthanum-specific investment. The constraint is demand, not supply. For the broader project pipeline, see the top rare earth producing countries and the China rare earth overview.

Lanthanum Price Outlook

The near-term lanthanum price outlook remains range-bound at low absolute levels, with the benchmark essentially flat for a third straight month after July’s 18.3% move. Structural oversupply from Chinese light rare earth operations, declining FCC catalyst demand, and NiMH battery displacement by lithium-ion technology collectively limit sustained upside from current prices. Chinese export licensing controls provide a modest floor by adding procurement complexity for Western buyers, but at $3.19/kg the element is still trading close to the marginal cost of processing for many operations.

The medium-term outlook depends almost entirely on hydrogen economy deployment. If LaNi₅ hydrogen storage scales commercially alongside fuel cell vehicle adoption and stationary hydrogen energy systems, lanthanum demand could increase several-fold from current levels against a supply base that cannot contract because it is tied to magnet rare earth output. That scenario would produce a sharp price response. For context on how other rare earth elements are priced and what drives their markets, the rare earth elements guide provides a framework for comparison.

Lanthanum Price Per Gram, Ounce and Pound

The conversion table below is calculated from the SMM lanthanum metal industrial benchmark and updated monthly. The SMM benchmark is quoted per tonne; per-kilogram and smaller unit conversions are shown for reference. At current prices, lanthanum is cheaper per gram than many common base metals.

Lanthanum Price in GBP, EUR and Other Currencies

Currency conversions from the SMM USD benchmark into GBP, EUR, AUD, JPY, and CAD are shown below. Figures are calculated using approximate exchange rates at the time of the most recent update and are for reference only.

Prices are calculated from the SMM industrial benchmark and updated monthly. For lanthanum oxide prices, see the Current Lanthanum Price table above.

This article is for informational purposes only and does not constitute investment advice. Prices are subject to change without notice.