China Rare Earths Quota Doesn't Move, Chinese Prices Frozen
China’s Ministry of Commerce (MOFCOM) announced their second-half 2013 rare earths quota for its companies, and our friend Gareth Hatch gives us the rundown.
“A total of 15,500 t of export quotas was allocated in this second round, comprising 13,821 t of light rare-earth (LRE) products and 1,679 t of medium / heavy rare-earth (M / HRE) products, bringing the total for 2013 to 30,999 t,” according to Gareth. “This is almost identical to the 2012 total of 30,996 t.”
He continues, “Given the projected increases in non-Chinese supply of LREs in 2013 and beyond, it was expected in some quarters that MOFCOM might eliminate export quotas for LREs; while this has not yet happened, it is still a distinct possibility.”
And what about the weekly rare earths price trends?
This week’s rare earths prices reflected that move, holding pat.
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Prices for cerium oxide didn’t move this week, and other metals on the weekly Rare Earths MMI® followed suit. Dysprosium oxide, europium oxide, lanthanum oxide, neodymium, yttrium and others all held flat.
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