Prices for cerium oxide didn’t move this week, and other metals on the weekly Rare Earths MMI® followed suit, including dysprosium oxide, europium oxide and neodymium.
However, this may change shortly to the upside — China’s Baotou Steel Rare-Earth (Group) Hi-Tech Co., the country’s top rare earths producer, “will halt some of its smelting and separation operations for a month in an effort to stabilise slumping prices, it said on Tuesday,” Reuters reported today.
“Demand for rare earths has weakened in the second half on the back of the economic slowdown, causing a sustained fall in prices,” Baotou said in a filing to the Shanghai Stock Exchange, as reported by Reuters.
“To stabilise the market and balance supply and demand, Baotou will halt its smelting and separation of some units from Oct. 23.,” the report continued.
The Rare Earths MMI® collects and weights 14 global rare earth metal price points to provide a unique view into rare earth metal price trends. For more information on the Rare Earths MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.