Lynas Corp’s CEO Eric Noyrez is bullish on forecasting an upside for the rare earths market – as well as prices – because companies are running low inventories.
“There will be some segment or market which would run out of rare earths by the end of this year, since the last time most of the companies bought the products was in 2010, when the price was still low,” he is quoted as saying to Bernama.
Noyrez also said, “Based on the related reports and other market reports, everybody is saying that now is the turning point for the market. The price was too high for the past two years and now has gone too low. The current rare earths market remains subdued. In response to this macro environment, Lynas is optimising production at the phase one capacity level.”
Basically, Lynas Corp. is waiting for prices to rise for rare earth metals before advancing to Phase Two of production.
This Week’s Rare Earth Prices
Prices for cerium oxide didn’t move this week. Other metals on the weekly Rare Earths MMI® followed suit. Following a steady week, prices for dysprosium oxide closed flat. The week finished with no movement for europium oxide.
Prices of lanthanum oxide, neodymium, neodymium oxide and others also 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.