Source: MetalMiner IndX(SM)
The monthly Rare Earths price index registered a value of 48 in December, an increase of 6.7 percent from 45 in November.
“Whether the upward price movement of the rare earth metals index will sustain itself and actually form a trend line remains to be seen,” said Lisa Reisman, managing editor of MetalMiner. “We have witnessed a number of government-backed initiatives aimed at providing price support to the rare earth complex, but none have taken hold throughout this year.”
And as MetalMiner previously wrote, the upward rare earth price movements have more to do with supply side interventions (e.g. subsidies to certain producers and forced closure of some mining companies) than growing demand.
Price Drivers of the Rare Earth Metal Index
After all three rare earth metals dropped the previous month, praseodymium neodymium oxide prices skyrocketed 42 percent, the price of europium oxide rose 15.8 percent, and neodymium oxide prices rose 14.8 percent.
After dropping the previous month as well, terbium oxide prices rose 12.6 percent. Dysprosium oxide prices rose 4.8 percent.
Meanwhile, the price of yttrium held flat.
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.