Monthly Rare Earths MMI® Holds Steady at 52 in September

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Source: MetalMiner IndX℠. Jan. 2012 Baseline = 100

The monthly Rare Earths MMI® registered a value of 52 in September, on par with August’s value.

“For the first time since May, the Rare Earths MMI® appears to show a little support, perhaps suggesting a floor to the recent but steady rare earths price drops experienced throughout this year,” said Lisa Reisman, managing editor of MetalMiner.

“Most of the rare earth metals within the complex increased in price,” she continued. “We continue to see weakness only in lanthanum oxide and cerium oxide.”

Whether Chinese export restrictions and edicts limiting the number of mining firms authorized to lawfully export rare earth metals have begun to have an impact on pricing remains unclear; but the establishment of a price floor may, in hindsight, suggest a turning point for rare earth metal pricing.

Neodymium prices increased from CNY 555,000 ($86,997) to CNY 565,000 ($88,917) per metric ton last month, a 2.2 percent hike. Finishing the month at CNY 362,500 ($57,048) per metric ton, praseodymium neodymium oxide recorded a 2.5 percent increase.

The price of lanthanum oxide fell 5.1 percent to CNY 68,500 ($10,780) per metric ton. Also at CNY 68,500 ($10,780) per metric ton, cerium oxide was down 5.1 percent for the month as well.

Finishing the month around CNY 425,000 ($66,884) per metric ton, neodymium oxide ticked up 0.4 increase.

The balance of the rare earths complex tracked by the MetalMiner IndX℠ saw similar, marginal increases in price.

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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