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.
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.
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.