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.

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.