Prices
No single exchange-settled price exists for thulium. Trade settles over-the-counter against benchmarks published by independent price-reporting agencies. We do not republish those numbers — consult the publishers directly:
Shanghai Metals Market ↗
Daily Chinese rare-earth oxide and metal benchmark quotations.
Fastmarkets — Rare Earths ↗
MB FOB China benchmark prices and market intelligence.
Asian Metal ↗
Daily REE oxide quotations from Chinese suppliers (subscription).
USGS Mineral Commodity Summaries 2026 ↗
Annual U.S. Geological Survey reference — production, reserves, prices, and trade statistics for thulium.
About Thulium
Editorial overviewWhat is thulium?
Thulium (Tm, atomic number 69) is a rare earth metal in the lanthanide series. It is typically discussed as a niche heavy rare earth with limited commercial use today, mainly in advanced materials research and specialty applications (Lynas Rare Earths).
How thulium is priced
Thulium has no exchange-listed contract. The reference market is the Chinese domestic spot market, where prices are published daily by Shanghai Metals Market (SMM) and the China Rare Earth Industry Association. International benchmark assessments are published by Fastmarkets and Argus Media on a daily/weekly basis. Both are regulated benchmark administrators under UK/EU BMR. The LME does not currently list a Thulium-specific contract; cash-settled rare-earth contracts on LME are limited to NdPr oxide.
Where thulium comes from
Thulium is not reported separately by USGS; it is mined as part of the broader rare-earths basket, where China remained the largest producer in 2025 at 270,000 tons, followed by the United States at 51,000 tons, Australia at 29,000 tons, Myanmar at 122,000 tons, and Madagascar at 122,700 tons (USGS Mineral Commodity Summaries 2026 — Rare Earths). World rare-earth mine output was 390,000 tons in 2025, with reserves reported as more than 75 million tons (USGS Mineral Commodity Summaries 2026 — Rare Earths). Full breakdown in the production and reserves sections.
Who produces thulium
Because thulium is not mined or sold as a standalone commodity in USGS reporting, the relevant producers are rare-earth miners and refiners such as MP Materials in the United States, Lynas in Australia and Malaysia, China Northern Rare Earth in China, and Iluka Resources in Australia (MP Materials, Lynas Rare Earths). MP Materials said it produced 12,983 metric tons of REO in Q1 2026 at Mountain Pass, while its business includes separated rare-earth products and heavy rare earth separation commissioning at Mountain Pass (MP Materials). Full list of producers below.
What thulium is used for
Lynas says thulium is used for ceramic magnetic materials that are still under development, so it remains a developing specialty-use element rather than a high-volume industrial input (Lynas Rare Earths). For the broader rare-earths basket, USGS notes limited recycling from batteries, permanent magnets, and fluorescent lamps, which is consistent with rare earths’ role in advanced materials and electronics (USGS Mineral Commodity Summaries 2026 — Rare Earths).
Key facts about thulium supply
- USGS Mineral Commodity Summaries 2026: world rare-earth mine production was 390,000 tons in 2025, and reserves were more than 75 million tons, implying roughly 192 years of reserve cover at 2025 output (USGS Mineral Commodity Summaries 2026 — Rare Earths).
- USGS Mineral Commodity Summaries 2026: China produced 270,000 tons of rare earths in 2025, about 69% of world output, making it the dominant supplier (USGS Mineral Commodity Summaries 2026 — Rare Earths).
- USGS Mineral Commodity Summaries 2026: the United States produced 51,000 tons of rare-earth mineral concentrates in 2025 and reported rare-earth compounds and metals net import reliance of 67% in 2025e (USGS Mineral Commodity Summaries 2026 — Rare Earths).
- USGS Mineral Commodity Summaries 2026: only limited quantities of rare earths were recovered from batteries, permanent magnets, and fluorescent lamps (USGS Mineral Commodity Summaries 2026 — Rare Earths).
- USGS Mineral Commodity Summaries 2026: China expanded rare-earth export controls in October 2025 to include thulium, alongside europium, holmium, erbium, and ytterbium (USGS Mineral Commodity Summaries 2026 — Rare Earths).
Sources: USGS Mineral Commodity Summaries 2026 — Rare Earths, Lynas Rare Earths — What are Rare Earths?, MP Materials Q1 2026 Results
Mine Production by Country
Source: USGS MCS 2026Per-country production data not published by USGS
USGS Mineral Commodity Summaries 2026 reports rare-earth production and reserves on a combined rare-earth-oxide (REO) basis only — per-country data are not broken out by individual element. Thulium production and reserves figures are not separately published by USGS. For the consolidated REE-group table covering all rare earths, see the Rare Earth Elements (REE) page.
Source: USGS MCS 2026
Major Producers (0)
No producer data available for this metal.
Latest News
All metals news →No recent news for this metal. Visit the Hub news section for all metals news.
Frequently Asked Questions
Auto-generated from primary-source dataWhat is the primary source for thulium production and reserves data?
Country-level thulium production and reserves figures on TSM Hub are sourced directly from the USGS Mineral Commodity Summaries 2026, the U.S. Geological Survey's authoritative annual reference. Company-level production figures come from each producer's official annual report, production report, or regulated exchange filing.