Source: MetalMiner IndX℠. Jan. 2012 Baseline = 100
The monthly Rare Earths MMI® registered a value of 52 in September, holding steady against 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.
Select Price Drivers of the Rare Earth Index
Neodymium prices increased 2.2 percent. Praseodymium neodymium oxide ticked up a bit more, recording a 2.5 percent increase. The price of lanthanum oxide fell 5.1 percent; cerium oxide was also down 5.1 percent for the month.
Neodymium oxide ticked up only slightly, notching a 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.