| Factors behind market prices for rare-earth metals |
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Author: Vladimir N. Podkorytov Ural State Mining University, Ekaterinburg, Russia Lyudmila A. Mochalova Ural State Mining University, Ekaterinburg, Russia Abstract: Rare-earth industry is gaining prominence due to the building up of the hightech production potential and the use of renewable energy. The forming world rare-earth metals market features high growth rates and price uncertainty for various types of metals. The paper aims to identify and reveal factors behind the prices for rare-earth metals with a view to forecast the direction and intensity of their changes in the near future. Methodologically, the research relies on the theory of market and the theory of price. The methods include typology, expert estimation, and scenario forecasting. The evidence base is collected from the US Geological Survey and internet resources containing information on the prices and the financial performance of mining and manufacturing companies for 2022–2025. The paper advocates that the world rare-earth market faces the situation of the permanently rising prices and insufficient, slowly growing supply, which contributes to the positive dynamics of the prices for them. The study elaborates on natural, technological and environmental barriers to increasing the supply of these metals as well as highlights high investment risks in the activities of rare-earth mining and manufacturing companies. The practical value of the findings lies in formulating several alternative forecasts for the direction and intensity of changes in the prices for rare-earth metals for the foreseeable future, which first and foremost assume the growth of world prices for heavy metals and certain stability of prices for light metals. Keywords: rare-earth metals; price factors; market situation; demand; supply; industry; mineral resources; scenario. For citation: Podkorytov V. N., Mochalova L. A. (2026). Factors behind market prices for rare-earth metals. Journal of New Economy, vol. 27, no. 2, pp. 134–154. DOI: 10.29141/2658-5081-2026-27-2-7. EDN: AJZTCL. Article info: received December 29, 2025; received in revised form February 11, 2026; accepted March 3, 2026 |
