Rare earths prices fell across the board on the weekly Rare Earths MMI®, and praseodymium neodymium oxide finished as the week’s biggest mover with a 19.7 percent decline. Dysprosium oxide weakened by 18 percent, and samarium oxide also closed with an 18 percent decline.
“Is this good news for rare earth buyers?” my colleague Stuart wrote earlier today. “Well, yes, in the short term it is. Of course, lower prices will encourage more innovation and uptake of rare earth metals for new technologies, just as skyrocketing higher prices encouraged firms to try to find alternatives.
“Should prices fall too far, however, we may be back to the 1990s and earlier in the last decade where the economics of Western sources was undermined,” he wrote. Read Stuart’s full rare earths analysis and commentary here.
Neodymium, lanthanum oxide and other prices also dropped considerably on MetalMiner’s rare earths price index.
Rare earth carbonate dropped 12.4 percent over the past week. Lanthanum oxide saw a 8.4 percent drop-off, and terbium oxide prices fell roughly $65 per kilogram from a week ago.
The price of europium oxide suffered a 3.4 percent decline from the previous week. Neodymium saw a 3.2 percent drop-off. Yttria weakened by 3 percent. Praseodymium oxide fell 2.7 percent over the past week.
Finally, neodymium oxide saw a 1.8 percent decline.
The price of terbium metal did not change since the previous week, and yttrium prices also remained unchanged.
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.