As the dispute between Japan and China over the islands – the Senkaku in Japan, the Diaoyu in China and the Tiaoyutai in Taiwan – in the East China Sea continues, more implications for the rare earths market and prices continue to surface.
According to an article in Rare Earth Investing News, “the current dispute has rattled [Japan’s] manufacturing sector and has led many companies to frantically seek supplies from non-Chinese suppliers.”
“For example, a government agency in Tokyo and trading house Sojitz have provided Lynas Corporation with a $225 million loan in return for which the Japanese were guaranteed a minimum 8,500 tonnes of REEs a year for 10 years,” the article continued. “Last week, Lynas confirmed it has since had to renegotiate the terms of the loan due to constant delays to its Malaysian processing plant.”
Presently, the dispute hasn’t seemed to have touched the rare earth prices tracked by the MetalMiner IndX℠. So did any prices move?
After falling 2.5 percent, praseodymium oxide ended up being the only mover on MetalMiner’s weekly Rare Earths MMI®.
The price of cerium oxide did not change since the previous week. Dysprosium oxide prices held steady from the previous week as well.
The rest of the rare earths complex, including europium oxide, lanthanum oxide and neodymium, remained flat.
Keep an eye out this week for the Monthly Rare Earths MMI® release!
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.