Quarter Ending September 2025
North America
• The Yttrium Metal Price Index held steady in Q3 2025, with minor fluctuations driven by global supply chain pressures and cautious procurement from high-tech sectors.
• The Yttrium Metal Price Forecast for Q4 2025 suggests a stable-to-firm trend, supported by growing demand in electronics, renewable energy, and defense technologies, though pricing remains vulnerable to Chinese export policy shifts.
• The Yttrium Metal Production Cost Trend in North America remained favorable, with low domestic mining activity but reliance on imported concentrates and oxides, primarily from China and Australia.
• Weekly movements in the Price Index were neutral to firm, with no major disruptions reported, though buyers remained cautious due to geopolitical uncertainties.
• Domestic consumption was supported by steady demand from LED manufacturers, ceramic producers, and research institutions, while import volumes remained consistent.
Why did the price of Yttrium Metal change in September 2025 in North America?
• Prices remained mostly stable, with minor upward pressure from increased demand in clean energy and defense applications.
• Global supply chain concentration—with over 90% of yttrium sourced from China—kept the market sensitive to policy changes and export controls.
• Buyers adopted a strategic sourcing approach, balancing long-term contracts with spot purchases to hedge against potential disruptions.
APAC
• In China, the Yttrium Metal Price Index fell by 1.54% quarter-over-quarter in Q3 2025, reflecting subdued international demand.
• The average Yttrium Metal price for the quarter was approximately USD 27940.00/MT on a FOB Shanghai basis.
• Yttrium Metal Spot Price displayed modest volatility amid steady domestic oxide output and recycled feedstock availability.
• Yttrium Metal Price Forecast indicates mild recovery driven by selective downstream procurement and improving export inquiries.
• Yttrium Metal Production Cost Trend remained elevated due to raw material and recycling processing expenses limiting seller discounting.
• Yttrium Metal Demand Outlook shows cautious buyer behavior in electronics and phosphor sectors, constraining transactional volumes.
• Yttrium Metal Price Index movements were restrained by balanced inventories, steady plant operations, and low global offtake.
• Yttrium Metal Price Index impacted by export licensing delays and procedural constraints, tempering faster price appreciation.
Why did the price of Yttrium Metal change in September 2025 in APAC?
• Export demand improvement from Japan and Korea marginally lifted procurement interest in September 2025, supporting price increases.
• Steady recycling and oxide production maintained supply, preventing sharper price rallies despite improving external inquiries.
• Logistical stability at Shanghai FOB and streamlined export licensing reduced transactional delays and supported trade execution.
Europe
• The Yttrium Metal Price Index remained steady in Q3 2025, with minor fluctuations driven by global rare earth market sentiment and cautious procurement from high-tech sectors.
• The Yttrium Metal Price Forecast for Q4 2025 suggests a stable-to-firm trend, supported by growing demand in electronics, renewable energy, and defense technologies, though pricing remains vulnerable to Chinese export policy shifts.
• The Yttrium Metal Production Cost Trend in Europe remained favorable, with limited domestic mining but strong refining and processing capabilities, especially in Germany, France, and Estonia.
• Weekly movements in the Price Index were neutral to firm, with no major disruptions reported, though buyers remained cautious due to global supply chain sensitivity.
• Domestic consumption was supported by steady demand from LED manufacturers, ceramic producers, and research institutions, while import volumes remained consistent, primarily from China and Australia.
Why did the price of Yttrium Metal change in September 2025 in Europe?
• Prices remained mostly stable, with minor upward pressure from increased demand in clean energy and defense applications.
• Global supply chain concentration—with over 90% of yttrium sourced from China—kept the market sensitive to policy changes and export controls.
• Buyers adopted a strategic sourcing approach, balancing long-term contracts with spot purchases to hedge against potential disruptions.
For the Quarter Ending June 2025
North America
• The Yttrium Metal Price Index in North America mirrored the global trend, decreasing quarter-over-quarter in Q2 2025. This decline was directly tied to price corrections in China, the dominant exporter.
• The Yttrium Production Cost Trend in North America remained irrelevant to local pricing due to full import dependency on Chinese-origin yttrium metal. No notable domestic production was recorded during the quarter.
• The Yttrium Demand Outlook weakened across major consuming sectors, including electronics and specialty alloys. Importers adopted a wait-and-watch stance amid rising export licensing hurdles and geopolitical uncertainty.
• Import activity slowed in May and June, as buyers reassessed procurement cycles. Delays in license issuance and cautious booking behavior contributed to low transaction volumes despite available inventory.
Why did the price of Yttrium Metal change in July 2025 in North America?
• The Yttrium Metal Spot Price in July 2025 is estimated to have remained stable. Prices followed the flat trajectory of Chinese FOB values, with little independent fluctuation due to the U.S.’s import dependence.
• Buying sentiment stayed cautious amid ongoing bureaucratic delays and trade policy ambiguity. Spot demand from aerospace and high-performance alloy segments was selective.
• The Yttrium Price Forecast for the region points to continued reliance on Chinese trade flows, with any shifts likely dictated by Beijing’s export controls or changes in U.S. tariffs.
• The Yttrium Demand Outlook remains subdued, with strategic sourcing programs under the Defense Production Act gaining limited traction.
APAC
• The Yttrium Metal Price Index in China increased slightly by 0.2% quarter-over-quarter in Q2 2025. This mild uptick was supported by a 14.7% MoM rise in magnesium alloy production in April, reinforcing yttrium’s alloying demand.
• The Yttrium Production Cost Trend stayed steady. Despite reduced medium-heavy rare earth oxide output due to export restrictions, yttrium-specific supply was not significantly affected, thanks to stable recycling activity and feedstock inventories.
• The Yttrium Demand Outlook remained moderately positive, driven by robust alloy sector expansion and speculative restocking interest during policy shifts. Demand was particularly visible from magnesium die-casting plants rushing to export ahead of tariffs.
• Export dynamics were constrained, as new licensing protocols caused procedural shipment delays, especially to major partners such as the EU, U.S., and Japan. This temporarily inflated domestic inventory but didn't trigger a supply glut.
Why did the price of Yttrium Metal change in July 2025 in China?
• The Yttrium Metal Spot Price in July 2025 is projected to have remained largely stable. Traders maintained firm offers due to steady oxide output and rising alloy consumption, though actual transaction volumes stayed limited.
• Buyers remained cautious, especially export-facing traders who awaited license clearance before engaging in bulk orders. Some speculative activity supported sentiment, but large-scale buying was absent.
• The Yttrium Price Forecast indicates potential mild upside risk if magnesium alloy production sustains momentum and licensing timelines improve.
• The Yttrium Demand Outlook holds moderate strength, with China's domestic alloy, electronics, and rare-earth-equity-driven investment sectors showing renewed interest.
Europe
• The Yttrium Metal Price Index in Germany fell quarter-over-quarter in Q2 2025, tracking the decline in China’s FOB Shanghai prices during May and the broader slump in import transactions.
• The Yttrium Production Cost Trend remained elevated across the EU, but had limited impact due to heavy reliance on Chinese imports. European producers focused more on light rare earths, with minimal Yttrium metal output.
• The Yttrium Demand Outlook weakened as industrial buyers postponed procurement amid regulatory uncertainty and extended license delays. Automotive and defense-related demand was particularly sensitive to delivery risk.
• Import volumes slowed across ports in Germany and the Netherlands, driven by buyer hesitancy and attempts to diversify sourcing from countries like Australia and Malaysia. Spot deals were negotiated with caution.
Why did the price of Yttrium Metal change in July 2025 in Europe?
• The Yttrium Metal Spot Price in July 2025 is estimated to have remained stable, with no additional softening beyond the Q2 correction. Sellers maintained previous levels despite light spot activity.
• Buyers in Germany and France limited new orders as they awaited clarity on export license approvals from Chinese authorities. Some suppliers offered minor discounts, but most held firm quotes to protect margin.
• The Yttrium Price Forecast for Europe suggests steady pricing into Q3 unless significant supply reshuffling occurs in Asia or alternative suppliers come online.
• The Yttrium Demand Outlook remains muted, with end-use sectors focusing on inventory drawdowns and risk mitigation.
For the Quarter Ending March 2025
North America
• The Yttrium Price Index in North American market showcased a modest volatility during the first quarter (Q1) of 2025 amid macroeconomic uncertainty and instability in demand.
• Why did the price of yttrium change in April 2025?
In the early April 2025, the Yttrium Spot Price decreased slightly, driven by dull aluminium and magnesium alloy markets entering into the next quarter and subdued downstream demand.
• The quarter began with pricing fluctuations, as improved supply conditions were counteracted by declining demand, particularly from sectors related to aluminium sheet production.
• Price pressures stemmed from the aluminium market, which had seen 2% to 6% price declines, indirectly affecting Yttrium Production Cost Trend and market dynamics.
• Concerns over inventory accumulation and uncertain consumption patterns persisted through the quarter, pushing prices downward.
• Raw material cost volatility and disruptions in import dynamics—especially from China—further shaped the Yttrium Spot Price trajectory.
• The Yttrium Demand Outlook for Q2 remains uncertain, with cautious sentiment prevailing due to limited growth in core industrial sectors.
• The Yttrium Price Forecast suggests potential further declines unless there is a rebound in alloy production or easing of import concerns.
Asia-Pacific (APAC)
• The Yttrium Price Index in the Asian market rose gradually throughout the Q1 2025, settling with a Yttrium Spot Price of USD 29,000/MT (99.9% purity, FOB Shanghai).
• Why did the price of yttrium change in April 2025?
In the early April 2025, Yttrium prices increased marginally, supported by firm demand, limited raw material availability, and strong growth in downstream applications.
• January showed stable pricing, bolstered by steady orders from the electronics and pharmaceuticals sectors.
• A shortage of ion-adsorption ores—due to Myanmar’s ongoing export restrictions—tightened raw material availability and lifted prices by 1.5% in February.
• Manufacturers responded with increased production activity and expansion planning, signaling confidence in the growing Yttrium Demand Outlook for high-tech and green energy sectors.
• In March, prices rose by 2.8%, reflecting recovery in construction and infrastructure applications, particularly in Southeast Asia.
• The Yttrium Production Cost Trend remained stable but under watch, as raw material tightness and energy input volatility continue to pose risks.
• The Yttrium Price Forecast for Q2 is optimistic, with expectations of continued price firmness barring any abrupt changes in policy or ore availability.
Europe
• The Yttrium Price Index in Europe remained under downward pressure in Q1 2025, mirroring trends seen in Q4 2024.
• Why did the price of yttrium change in April 2025?
In the early weeks of April 2025, Yttrium Spot Prices declined, driven by stagnant demand, high inventories, and rising operational costs across key sectors.
• January saw stable prices, as the region carried forward Q4’s flat pricing environment amid subdued demand from the construction and metals sectors.
• The Yttrium Production Cost Trend was adversely impacted by high energy and logistical expenses, adding cost-side strain even as demand weakened.
• A weak aluminium market continued to drag yttrium consumption, especially in alloys used for structural applications.
• Imports from China added price pressure, amid shifting macroeconomic dynamics and evolving downstream consumption behaviors.
• The Yttrium Demand Outlook remains cautious, particularly in light of limited signs of recovery in infrastructure and construction-linked industries.
• The Yttrium Price Forecast for Q2 suggests continued strain unless structural improvements in European industrial activity emerge.
For the Quarter Ending December 2024
North America
In Q4 2024, the yttrium metal market in North America experienced a period of relative stability amidst market fluctuations influenced by various external factors. The quarter began with stable pricing dynamics, primarily due to improved supply conditions and moderate demand levels. However, global economic uncertainties, particularly linked to imports from China, created fluctuations in pricing as elevated inventory levels and sluggish demand formed a backdrop for market activity.
Throughout the quarter, the trends observed in related sectors, such as the aluminium sheet market, suggested challenges ahead. The aluminium sheet prices dropped by 2% in October and a further 6% in November, ultimately stabilizing in December. Since yttrium is essential in manufacturing aluminium and magnesium alloys, this decline likely exerted downward pressure on yttrium prices as well.
Market analysts noted that ongoing disruptions, including logistical hurdles and fluctuations in alumina prices, could create ripple effects impacting yttrium demand and pricing. Additionally, cautious consumer behaviour amidst economic uncertainties influenced the overall dynamics.
As the quarter closed, the pricing trend for yttrium reflected a modest decline, informed by broader challenges faced in the aluminium sector. Market participants must navigate fluctuations in raw material costs, ongoing demand volatility, and the impact of external factors from upstream supply chains while planning for the future.
Europe
In Q4 2024, the yttrium metal market in Europe faced significant headwinds characterized by stagnant demand and external pressures affecting pricing dynamics. Throughout October, yttrium prices exhibited stability; however, as the quarter progressed, challenges linked to elevated inventory levels and sluggish demand became more pronounced. The overall economic backdrop reflected a contraction in critical sectors, such as construction, which is essential for aluminium sheet consumption, impacting overall yttrium demand. Similar to the trends observed in the European aluminium sheet market, where prices remained stable despite decreases in previous months, the yttrium market experienced limited price fluctuations. Key factors influencing this period included the correlation with imports from China, where prices were experiencing downward pressure due to macroeconomic uncertainties and shifts in downstream consumption patterns. As manufacturers faced rising operational costs and logistical disruptions, the availability of yttrium for use in aluminium and magnesium alloys was increasingly scrutinized. The fourth quarter concluded with a cautious outlook, as participants in the yttrium market must navigate ongoing demand uncertainties and fluctuating input prices, reflecting broader challenges seen across the European metals market. Looking ahead, stakeholders will need to adapt to the changing landscape while grappling with the potential for further economic contractions.
APAC
In Q4 2024, the yttrium metal market in the APAC region, particularly in China, experienced a mixture of stability and some downward pressure on prices. Throughout October, yttrium prices remained stable as improving demand from alloys, particularly in the wake of a revitalized real estate sector, offered some optimism. However, as the quarter progressed, key dynamics shifted, revealing challenges linked to upstream pricing pressures and hesitation among downstream buyers. In November, while prices held steady initially, a bearish sentiment emerged due to pushes from upstream separation plants for higher prices, which met resistance from price-sensitive buyers. This tug-of-war contributed to limited fluctuations in the market. By December, yttrium metal prices declined by 1.5%, reflecting broader downturns in the rare earth metal market coupled with fluctuating downstream demand. The quarter-ending price for Yttrium Metal (99.9%) FOB Shanghai stood at USD 27,930/MT. Overall, Q4 pricing exhibited a slight downward trend, combining periods of stability with eventual declines, reflecting ongoing challenges related to supply dynamics and demand volatility, which market participants must navigate carefully moving forward.
