From mid- to late April 2025, the rare earth market exhibited a clear divergence between light and medium-heavy rare earth elements. Prices of light rare earths softened due to sluggish demand for end-products such as electric vehicle (EV) batteries. In contrast, medium-heavy rare earths, which have recently been subjected to Chinese export restrictions, rose in anticipation of future supply shortages and potential price hikes. Overall, the rare earth market showed a declining trend, with a cautious mood prevailing among market participants.

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