Baotou Steel Says China to Stockpile More Rare Earths; Lynas Corp Falls

by MetalMiner IndX Reports on

As stock prices fell for Lynas Corp. and rose for Molycorp, the bigger news is that China’s State Reserves Bureau will stockpile 10,000 more tons of rare earths.

“The expected purchases would include 4,000 tonnes of praseodymium-neodymium oxide, 500 tonnes of praseodymium oxide, 500 tonnes of neodymium oxide, 1,200 tonnes of dysprosium oxide and 300 tonnes of erbium oxide, the China Securities Journal reported, citing a source at top producer Inner Mongolia Baotou Steel Rare-Earth,” reported Reuters.

According to analysts, the stockpiling could lift prices, which would then lower end-user demand.

On MetalMiner’s rare earths index, the biggest mover was terbium oxide with a 4.5 percent fall on the weekly Rare Earths MMI®. The past week saw dysprosium oxide close after a 4.3 percent decline. Praseodymium neodymium oxide fell 2.7 percent over the past week.

* Get the complete prices every day on the MetalMiner IndX℠

Following a 1.4 percent increase in the week prior, the price of neodymium oxide fell 1.4 percent last week. Cerium oxide traded sideways last week. Cerium oxide remained essentially flat from the previous week. The week finished with no movement for europium oxide.

Prices for neodymium remained constant. The price of praseodymium oxide did not change since the previous week. Rare earth carbonate traded sideways last week. Samarium oxide remained essentially flat from the previous week as well.

Prices for terbium metal remained constant, as did yttria and yttrium.

Read the latest Monthly MMI Report for September 2013 – covering the rare earths market!

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.