MetalMiner's Monthly Rare Earths Price Index Falls 7.1% To 52 For August

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The monthly Rare Earths MMI® registered a value of 52 in August, a decrease of 7.1 percent from 56 in July.

*Download exclusive August 2012 commentary for ALL MMIs — all 10 metals markets and industries in one place.

Our rare earth metal index continued its three-month downward price trend, led by significant drops nearly across the board. Only yttria, terbium metal and samarium oxide largely held their values with only slight price drops.

“We believe the declining price complex for rare earths comes as a result of reduced domestic demand,” said Lisa Reisman, executive editor of MetalMiner. “This past month, Chinese authorities announced a move toward national stockpiling of key rare earth elements which will likely provide some price support moving forward.”

“Of course, the whole world continues to watch the WTO’s activities with bated breath, with regard to China’s export restrictions of rare earth metals,” she continued.

The WTO has formed a panel to further explore the issues amongst the parties involved, namely Europe, Japan, the US and China.

Drivers of the Rare Earths Index Decline

The price of yttrium plummeted 42 percent over the last month. Rare earth carbonate prices also fell hard, down 34.3 percent. The price of neodymium fell 14.3 percent.

The price of praseodymium oxide fell 10.1 percent. Though the price of neodymium oxide has held steady for the past two weeks, it fell 9.9 percent during the first half of the month. Europium oxide declined 8.9 percent to close north of $1,000 per kilogram.

Moving right along with the downward train, terbium oxide slid 8.6 percent. The price of lanthanum oxide has held steady for the second half of the month, though it fell 9.7 percent during the first half. Cerium oxide dropped 9.7 percent over the past month as well.

The price of praseodymium neodymium oxide fell 5.7 percent during the first half of the month, while the price of dysprosium oxide fell 5.4 percent over the past month.

The price of yttria dropped 0.4 percent last month. Terbium metal prices barely moved, but still dropped a tad. Samarium oxide experienced very slight price drop as well.

*Download exclusive August 2012 commentary for ALL MMIs — all 10 metals markets and industries in one place.

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.

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