Global Times reports that rare earth prices could rise due to a supply shortage.

As November kicks off, the rare-earth market is back in the spotlight due to supply disruptions from Myanmar, with analysts noting on Sunday that a sustained rise in prices is expected.

After seeing elevated list prices for rare earths in September and October, some Chinese suppliers have increased their prices for three months in a row.

For instance, Inner Mongolia Baotou Steel Rare-Earth announced its list prices for rare earths for November on Friday, revealing a slight month-on-month increase in the prices of several products, such as praseodymium neodymium oxide, often abbreviated as PrNdO, Global Times reported.

Given the current situation in Myanmar, the rare-earth market prices are likely to experience a sustained increase, Wu Chenhui, an independent industry analyst who closely follows the industry, told the Global Times on Sunday.

Myanmar accounts for more than 50 percent of the global heavy rare-earth supply, mainly producing medium and heavy rare-earth ion ores, accounting for 11 percent of global output in 2023.

From January to September, China imported 31,000 tons of rare-earth oxides from Myanmar, which constituted 74.9 percent of total oxide imports during that period, according to the General Administration of Customs, Global Times reported.