MetalMiner’s weekly rare earth price index, tracking metals and oxides, reinforces the overarching story for this group of metal commodities – that it’s on a continued decline with no light at the end of the tunnel.
SMM reported that rare earth oversupply will not be scaled down in the foreseeable future. “China’s rare earth capacity has reached 320,000 mt/yr for now, much higher than global total demand of 120,000 mt/yr,” according to the Chinese metal news source. “Nevertheless, rare earth enterprises are seeking for a new way out, innovating technology and developing high-end rare earth new materials.”
Weekly Rare Earths Prices
The biggest mover was yttrium with a 32.5 percent fall on the weekly Rare Earths MMI®. Samarium oxide weakened by 26.3 percent. The past week saw dysprosium oxide close after a 25.4 percent decline.
Terbium oxide saw a 23.8 percent drop-off this week. Terbium metal prices fell as well. Terbium metal finished the week after falling 20.4 percent. The price of europium oxide decreased by 15.7 percent from the previous week.
Neodymium oxide dropped 7.3 percent over the past week. Cerium oxide finished the week after falling 3.4 percent. The past week saw praseodymium oxide close after a 3.4 percent decline. Lanthanum oxide fell 1.7 percent over the past week.
The price of praseodymium neodymium oxide declined 1.0 percent over the past week. Neodymium remained unchanged for the week. The price of rare earth carbonate did not change since the previous week.
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.