According to Bloomberg, even though Molycorp declared a Q2 loss, the rare earths producer has a pretty optimistic outlook for REE demand.
“Molycorp Inc. (MCP), the U.S. owner of the largest rare-earth deposit outside China, expects prices to rise as customers from automakers to robot builders increase their purchases and China expands enforcement efforts to control illegal production,” the article reported. “‘The auto industry has been one of the highlights both in terms of rare earth demand for catalytic converters, rare-earth demand for refinery catalysts and magnetic material demand,’ [CEO Constantine] Karayannopoulos said. Builders of automated robots used on assembly lines increased purchases for the first time in two years, which ‘bodes well for all manufacturing,’ he said.”
The biggest mover this week on MetalMiner’s rare earths price index was dysprosium oxide with a 8.3 percent fall. Praseodymium oxide rose by a slight 2.1 percent. Cerium oxide traded sideways last week.
The week finished with no movement for europium oxide, lanthanum oxide, neodymium, rare earth carbonate and samarium oxide prices, among others.
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.