The article is devoted to the analysis of the global market and trends in international trade in rare earth metals in the context of plans for the development of this industry in Russia. The volume of the global market for rare earth metals ($5–7 billion) is relatively small: it is 2–3 orders of magnitude smaller than the volumes of the global aluminum and steel markets. However, in the context of the development of high-tech industries (electronics, green energy, new modes of transport) that consume rare earth metals, a doubling of the market volume is predicted over the next five years. The leading player in the global market for rare earth metals is currently China, where a policy to consolidate the mining and processing assets of the industry has been implemented in recent years. Despite Russia’s significant reserves (2nd place in the world), rare earth metal processing is practically undeveloped domestically. The planned production capacity of 50 thousand tons of rare earth metals suggests a strong export orientation of the industry (with current domestic demand of 2–3 thousand tons). The global market for rare earth metal compounds has a lower degree of concentration (HS 284690) compared to the market for pure rare earth metals (HS 280530). The entry of Russian companies into the global market for rare earth metals may face strategic counteraction from key competitors, primarily China, and will require focused spatial development of the industry, selection of product specialization, consolidation of industry assets, implementation of measures to promote exports, and other forms of state support.
rare earth metals; global market; foreign trade; mining and processing; industry development plans.