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Neodymium Price Today
Last updated: April 30, 2026 at 10:00 AM EDT ET · Source: COMEX / LBMA
Calculate Neodymium Value
1 Grams (g) of Neodymium
$1,993.34
Spot price: $62,000.00/oz
Rate: 1 USD = 1 USD
Approximate value - excludes taxes, premiums
Exchange rates are indicative. Actual buy/sell prices include dealer premiums. Not financial advice.
Price by Weight
| Unit | USD Price |
|---|---|
| Troy Ounce (oz t) | $62,000.00 |
| Gram (g) | $1,993.34 |
| Kilogram (kg) | $1,993,344.80 |
| Tola (10g) | $19,933.45 |
| Pennyweight (dwt) | $3,100.00 |
Price by Currency (per troy oz)
| Currency | Price |
|---|---|
| 🇺🇸USD | $62,000.00 |
| 🇨🇦CAD | CA$84,320.00 |
| 🇪🇺EUR | €57,040.00 |
| 🇬🇧GBP | £48,980.00 |
| 🇦🇺AUD | A$95,480.00 |
| 🇨🇭CHF | Fr55,800.00 |
| 🇯🇵JPY | ¥9,517,000 |
| 🇮🇳INR | ₹5,170,800 |
Exchange rates are approximate. Source: COMEX / LBMA
About Neodymium
Neodymium is the magnet metal powering the clean energy transition. NdFeB (neodymium iron boron) magnets are the strongest permanent magnets known to science, enabling the compact, efficient electric motors used in EVs, wind turbines, industrial robots, and consumer electronics. Without neodymium magnets, the torque and power density that makes EV motors superior to internal combustion engines would be impossible to achieve.
China controls approximately 85% of global rare earth production and an even higher share of rare earth processing and magnet manufacturing. This concentration gives China extraordinary geopolitical leverage — a fact demonstrated in 2010 when China temporarily restricted rare earth exports to Japan during a territorial dispute, causing prices to spike 1,000%+ and triggering a global scramble for supply diversification that continues today.
Neodymium is typically found alongside other rare earth elements in mineral deposits. Major non-Chinese sources include MP Materials' Mountain Pass mine in California (the only significant US producer), Lynas Rare Earths' Mount Weld operation in Australia, and emerging projects in Canada, Greenland, and Africa. However, building rare earth processing capacity outside China requires significant investment and time — China has spent 30+ years developing its dominance.
The EV boom is creating unprecedented demand for neodymium. A typical EV requires 1-2 kg of neodymium in its motor magnets. With global EV production potentially reaching 40+ million vehicles annually by 2030, neodymium demand from this sector alone could more than double current supply. This structural imbalance makes neodymium one of the most compelling long-term commodity stories of the energy transition.
Frequently Asked Questions
What makes neodymium magnets so powerful?
NdFeB (neodymium iron boron) magnets have the highest energy product of any permanent magnet material, meaning they produce the strongest magnetic field relative to their volume and weight. This extraordinary magnetic strength enables smaller, lighter, and more powerful motors and generators — critical for EV performance and wind turbine efficiency. They are typically 5-10x stronger than ferrite magnets.
Why does China dominate rare earth supply?
China's rare earth dominance reflects decades of strategic development dating to Deng Xiaoping's 1987 statement that "the Middle East has oil, China has rare earths." China invested heavily in mining, separation, and processing infrastructure while competitors exited the market due to low prices and environmental concerns. Today, China controls ~60% of global mining but ~85% of processing, creating chokepoint control over the entire supply chain.
How much neodymium does an EV need?
A typical EV using a permanent magnet motor (the most common and efficient type) requires approximately 1-2 kg of neodymium-praseodymium (NdPr) oxide per vehicle. Wind turbines are even more magnet-intensive: a direct-drive offshore wind turbine can require 600 kg of NdFeB magnets, containing ~200 kg of NdPr. Growing EV and wind energy deployment is creating a structural demand surge.
What are non-Chinese sources of neodymium?
MP Materials operates Mountain Pass in California, the largest rare earth mine outside China, but currently ships concentrate to China for processing. Lynas Rare Earths mines in Australia and processes in Malaysia. Both companies are expanding processing capacity outside China. Emerging projects in Greenland (Kvanefjeld), Tanzania, and Canada aim to diversify supply, but face long development timelines and high capital requirements.
Can rare earth magnets be recycled?
Yes, but at scale recycling of NdFeB magnets remains limited. Most EV motors and wind turbines currently in service are too new to reach end-of-life. As fleets retire over the 2030s, recycled neodymium could meaningfully supplement primary supply. Companies like Cyclic Materials, Vacuumschmelze, and REEtec are developing commercial rare earth recycling processes, supported by EU and US government funding.