A research report released by CITIC Securities projects that the average price of praseodymium-neodymium oxide is set to surge to RMB 731,000 per ton in the first half of 2026, marking a substantial year-on-year increase of 73.6%. From a supply perspective, there has been a notable decline in both imports and recycling volumes. Concurrently, stricter domestic policies governing rare earth management have been implemented, resulting in a sustained tightening of industry supply. On the demand front, the sequential month-on-month growth in production volumes of new energy vehicles and robots, coupled with robust export orders and the imminent large-scale production of Tesla robots, is anticipated to fuel continuous growth in rare earth demand. In summary, the global supply-demand gap for rare earths is likely to expand from 2026 onwards, underpinning a long-term upward trajectory in rare earth prices. It is thus advisable to recognize and prioritize the strategic allocation value of the rare earth industry chain.