The average price of praseodymium-neodymium oxide in the first half of 2026 was 731,000 yuan per tonne, up 73.6% year on year, according to a CITIC Securities research note cited by 36Kr. On the supply side, the report said imports and recycled supply fell notably, while enforcement of China’s rare earth management policies has tightened, keeping supply constrained. On the demand side, it said output of new energy vehicles and robots increased from the prior period and export orders grew strongly; it also noted Tesla is nearing mass production of its robots. CITIC Securities expects rare earth demand to continue rising and forecasts that from 2026 the global rare earth supply-demand gap will keep widening, providing long-term support for prices.