Last week, we reported a huge increase in our weekly rare earths price index – which has been verified – and subsequently, Molycorp Inc’s stock price took notice.
This week, the MetalMiner IndX℠ shows more increases for the minor metals sector, albeit more modest ones for the most part. So it begs the question: are we seeing the beginning of a sustainable trend upwards? And how much upward movement will merit increased production?
The biggest mover on the weekly Rare Earths MMI® was the neodymium price, which saw a 20.9 percent increase. Following a 79.3 percent increase in the week prior, the price of dysprosium oxide fell 7.7 percent last week. One of the big movers this week was europium oxide, which shot up 6.8 percent.
Terbium oxide rose 5.1 percent over the past week. Neodymium oxide climbed 4.7 percent. Praseodymium oxide prices climbed nearly $4,000 per metric ton from a week ago.
Lanthanum oxide traded sideways last week. Prices for praseodymium neodymium oxide remained constant. Rare earth carbonate prices held steady from the previous week. The price of samarium oxide did not change.
Terbium metal remained unchanged, as did yttria and yttrium prices.
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.