Praseodymium Price Today: NdPr Spot & Market Outlook

Last updated: 3 September 2026 · Updated monthly · Sources: Shanghai Metals Market (SMM); USGS Mineral Resources Program

• The praseodymium price stands at $150.69/kg for domestic metal, down 2.37% month-on-month.
• The NdPr alloy benchmark — the relevant procurement reference for magnet manufacturers — fell to $131.02/kg, down 1.98%.
• This is the first monthly decline across the whole NdPr complex since May, following three consecutive months of gains.
• Neodymium metal fell in parallel to $141.79/kg, down 2.54%, suggesting a broad complex-wide pullback rather than a praseodymium-specific move.
• China’s mid-year mining quota policy remains the primary near-term catalyst for whichever direction the market moves next.

The praseodymium price stands at $150.69/kg for domestic praseodymium metal as of 3 September 2026, according to Shanghai Metals Market (SMM) data, down 2.37% from $154.35/kg at the August benchmark. The NdPr alloy price — the blended praseodymium-neodymium feedstock that drives magnet supply chain decisions — stands at $131.02/kg, down 1.98% from $133.67/kg in August. Both benchmarks pulled back this month, the first decline for the complex since May, after three straight months of gains through June, July, and August. Understanding the distinction between pure praseodymium metal and the NdPr alloy benchmark is essential for procurement professionals and analysts tracking this market.

Current Praseodymium Price

The table below presents the most relevant praseodymium-related price benchmarks reported by SMM on 3 September 2026. All prices are in USD per kilogram.

The FOB China premium — $162/kg versus $150.69/kg domestic — stands at approximately 7.5%, a similar structural gap to prior months. FOB eased 3.57% from $168/kg in late July, tracking the same softening seen in the domestic and NdPr alloy benchmarks this cycle, rather than diverging from them.

Praseodymium Price History

Historical praseodymium price data is sourced from SMM and cross-referenced with USGS Mineral Resources Program annual surveys. Annual figures are approximate midpoint estimates; precise monthly SMM series require a subscription.

What Is Praseodymium Used For

Praseodymium (atomic number 59) is a light rare earth element (LREE) belonging to the lanthanide series. Its commercial applications are concentrated in a small number of high-value end markets. NdFeB permanent magnets are the dominant end use, consumed via NdPr alloy feedstock — these sintered magnets power electric vehicle traction motors, direct-drive wind turbine generators, and a range of industrial motors and actuators. High-strength low-alloy (HSLA) steel is a secondary application, where praseodymium functions as a microalloying grain-refiner, improving toughness and weldability in structural steel.

Optical fibres represent a smaller but established use: praseodymium-doped fibre amplifiers are deployed in specialist telecommunications infrastructure, particularly at shorter wavelengths than the more common erbium-doped alternatives. Ceramic pigments are the fourth application — praseodymium yellow, a praseodymium-zirconium silicate, is a commercially important inorganic pigment used in ceramic tile glazes and industrial coatings, valued for its thermal and chemical stability. Of these, the magnet supply chain accounts for the overwhelming majority of praseodymium demand growth, so the praseodymium price trajectory is primarily a function of NdFeB magnet demand rather than any of its secondary applications.

What Is Driving the Praseodymium Price

The NdPr market entered 2026 in a supply deficit for the second consecutive year. Mine supply, constrained by Chinese production quotas and limited ex-China project throughput, has not kept pace with demand from the EV and wind energy sectors. September’s pullback is the first sign that the pace of the recovery has genuinely paused rather than merely slowed, as it did in August — worth watching at the next update to see whether this is a pause within the deficit story or the start of a different trend. Analysts expect the underlying deficit to persist through at least mid-2026, subject to any revision in China’s semi-annual rare earth mining quota announcements.

Each NdFeB magnet in a typical EV traction motor contains approximately 1–2 kg of NdPr equivalent. Global EV sales volumes and the ongoing build-out of offshore wind capacity in Europe and Asia represent the principal praseodymium price growth vectors. Procurement professionals at Tier 1 automotive suppliers and wind OEMs have increasingly moved to secure NdPr supply under forward contracts rather than spot purchases, tightening the available spot market.

China accounts for approximately 85% of global praseodymium production, and the domestic praseodymium price is directly governed by Chinese state mining quotas set by the Ministry of Industry and Information Technology (MIIT). Export duties and trading restrictions create the structural FOB premium visible in the current data. Any tightening of export controls would amplify the premium further and accelerate ex-China praseodymium price discovery.

Western Praseodymium Supply Development

Because praseodymium and neodymium co-occur in rare earth ores — primarily in bastnäsite and monazite deposits — the Western supply development story for both elements is identical. MP Materials Corp (NYSE: MP) operates the Mountain Pass mine in California, the only active rare earth mining and processing facility of scale in the United States. Mountain Pass ore is rich in LREEs including praseodymium and neodymium, and MP Materials has been expanding downstream processing capacity, including NdPr separation, as part of a strategy to supply US magnet manufacturers.

Lynas Rare Earths (ASX: LYC) operates the Mount Weld mine in Western Australia, one of the highest-grade rare earth deposits globally, with processing at the LAMP facility in Malaysia and an expanding US processing presence. Lynas is a major non-Chinese NdPr supplier to Asian and Western customers. Both producers benefit directly from an elevated praseodymium price, as production economics improve and offtake agreements become more commercially attractive. Neither, however, can materially alter global supply balances in the near term — combined ex-China production remains a small fraction of Chinese output.

Praseodymium vs Neodymium

Pure praseodymium metal ($150.69/kg) and pure neodymium metal ($141.79/kg) moved down together this month, keeping a similar gap to prior months given their inseparable geological co-occurrence and shared processing circuits. Their separation into distinct pure metals requires additional processing steps that command a cost premium but deliver limited commercial value, because the end user — the NdFeB magnet maker — can use the blended NdPr alloy directly.

The NdPr blended alloy benchmark at $131.02/kg trades at a discount to both pure metals, reflecting its composition: approximately 20–25% praseodymium and 75–80% neodymium by weight. For magnet manufacturers, the NdPr alloy is the relevant procurement benchmark — not pure praseodymium metal. Analysts and investors tracking the praseodymium price should monitor the NdPr alloy benchmark as their primary indicator. For direct comparison, see the neodymium price tracker.

Praseodymium Price Outlook

The praseodymium price fell for the first time in four months in September, down 2.37% after August’s already-decelerating 3.46% gain. The NdPr alloy benchmark, the more relevant procurement reference, eased 1.98%, a similarly modest move in scale to August’s slowdown but now in the opposite direction. Whether this marks the start of a genuine correction or a single quiet month within the broader deficit-driven recovery is not yet clear. China’s mid-year mining quota announcement remains the primary near-term catalyst in either direction: quota tightening would support a return to the earlier recovery pattern, while an expansion would extend this month’s softness.

The medium-term demand case for the praseodymium price rests on compounding annual EV sales growth and accelerating wind energy build-out, both of which translate directly into NdPr demand. Supply responses from Western producers and emerging projects in Africa and Canada are expected to provide incremental non-Chinese tonnes, but analysts do not forecast a return to supply surplus before 2027 at the earliest. For the heavy rare earth complement to this market, see the terbium price tracker.

For additional market context, see the Rare Earth Market Outlook — August 2026.

Praseodymium Price Per Gram, Ounce and Pound

The conversion table below is calculated from the SMM praseodymium metal domestic benchmark and updated monthly.

Praseodymium Price in GBP, EUR and Other Currencies

Currency conversions are calculated from the SMM domestic benchmark using approximate exchange rates at the time of publication and are for reference only. For live rates, consult your preferred currency provider.

Disclaimer: This page is provided for informational purposes only. Nothing on this page constitutes investment advice, financial advice, or a solicitation to buy or sell any financial instrument or commodity. Rare earth markets involve significant price volatility and liquidity risk. Price data sourced from SMM and other third parties is believed accurate but is not independently verified by rare-earth-mining.com.