The monthly Rare Earths MMI® registered a value of 56 in July, a decrease of 9.7 percent from 62 in June.
All of the rare earth metal prices came down this past month, with the exception of rare earth carbonate and yttrium.
Source: MetalMiner IndX(SM)
“We don’t see the Chinese sitting idly by watching rare earth prices plummet [the Rare Earths MMI® performed the worst this month when compared to every index within the MMI® series]; in fact, as with many other price drops for metals, China has announced plans to begin stockpiling rare earth metals, which will have the effect of propping up prices,” said Lisa Reisman, managing editor of MetalMiner.
“China pursues these buy-up plans when prices dip…copper market observers will concur,” she continued.
Drivers of the Downward Trend
Yttria declined 15.7 percent. Europium oxide prices fell 14.5 percent. Dysprosium oxide was down 13.2 percent for the month.
A 12.8 percent drop over the past month left praseodymium neodymium oxide below $60,000 per metric ton.
Neodymium oxide finished the month with an 8.7 percent decline in price. Meanwhile, terbium oxide finished the month down by 7.6 percent. Cerium oxide prices dropped by 6.1 percent this month. After remaining essentially unchanged the previous month, the price of lanthanum oxide fell 6.1 percent.
Prices for yttrium remained constant this past month. Rare earth carbonate remained unchanged.
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 over a 30-day period. 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.