The monthly Rare Earths MMI® slipped by one point, registering a value of 42 in April – a decrease of 2.3 percent from 43 in March.
Our rare earth price index continues as the worst performing MMI of all 10 MMI indexes.
“Like we have seen in previous months, we note that the entire Rare Earth index has not slid; rather, the slide comes down to a few key rare earth metals,” said Lisa Reisman, managing editor of MetalMiner.
“In particular, we see price weakness for yttria, samarium oxide, neodymium oxide, lanthanum oxide and europium oxide,” she continued.
The fact that that the price drops continue to impact only a handful of rare earth metals tells us to apply caution to any press or pundit statements slamming the entire sector. We see price weakness in specific metals based upon the supply and demand fundamentals for that particular metal, but other rare earth metal prices remain well-supported, indicating a market in greater balance.
So despite the index registering a value of 42, we shouldn’t draw general conclusions that all rare earth metal prices have declined.
Price Drivers of Rare Earths Index Drop
Following a 25.5 percent decline in price, yttria finished the month at $14,104 per metric ton. A 13.3 percent drop over the past month left neodymium oxide at $52,387 per metric ton. Lanthanum oxide prices dropped by 12.8 percent this month to $5,480 per metric ton. At $7,657 per metric ton, samarium oxide was down 9.5 percent for the month. After falling 6.8 percent, europium oxide finished the month at $886.54 per kilogram. Cerium oxide prices fell 6.0 percent to $6,286 per metric ton. Praseodymium oxide prices decreased by 2.0 percent this month, ending at $59,237 per metric ton. The value of praseodymium neodymium oxide weakened by 1.6 percent this month, settling at $49,566 per metric ton.
At a price of $628.64 per kilogram, terbium oxide did not budge the entire month. Dysprosium oxide traded sideways last month, staying around $326.41 per kilogram. Prices for yttrium remained constant this past month, holding at around $64.48 per kilogram. Hovering around $68,506 per metric ton for the month, neodymium remained unchanged. The price of terbium metal held steady around $1,265 per kilogram last month. Rare earth carbonate experienced a flat month, staying around $4,433 per metric ton.
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.