The monthly Rare Earths MMI® dropped 3.8 percent in October, registering a value of 50 – down from 52 in September.
The rare earth metal price index continues its fall into October, despite a hiatus last month in which the index held flat. “We’re continuing to see price weakness across the entire basket of rare earth metals that comprise the overall index,” said Lisa Reisman, managing editor of MetalMiner. “The Rare Earths MMI® wins the Worst Performer Award for all metal indexes tracked.”
Only yttrium, terbium metal and samarium oxide increased in price from the previous month. “It appears as though the rare earth metals complex in general can’t seem to find a floor, which suggests Chinese demand remains weak,” noted Reisman.
Drivers of the Rare Earths Price Index
Neodymium prices dropped by 11.4 percent this month. Lanthanum oxide experienced a 9.2 percent drop. Cerium oxide also dove 9.2 percent.
Dysprosium oxide finished the month with a 7.1 percent fall. The price of terbium oxide closed the month after dropping 6.2 percent. The price of neodymium oxide fell 6 percent, and europium oxide prices dropped by 3.6 percent this month.
Yttrium rose 1.2 percent, terbium metal experienced a 1.1 percent increase, as did samarium oxide prices.
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.