In 2013, China accounted for 92.1 percent of globally produced high-tech rare earth oxides, Germany’s Federal Institute for Geosciences and Natural Resources (BGR) said in a study released Wednesday. While the percentage was still high, it actually showed a decline from 2010 levels when the Asian nation covered 97.6 percent of worldwide demand.
With global growth weak in recent years in the wake of the financial crisis, rare earth oxides production had decreased markedly, the BGR said. While some 133,500 tons were mined back in 2009, production slowed to 90,500 tons last year.
The study mentioned a drastic fall in prices in 2011 which had subsequently led to a stronger global search for other rare earth deposits outside of China.
This week saw little change in prices for the Rare Earths MMI®. cerium oxide kept steady. Prices for dysprosium oxide remained constant. The price of europium oxide did not change since the previous week.
Following a steady week, prices for lanthanum oxide closed flat. Neodymium prices held steady from the previous week. Neodymium oxide traded sideways last week, hovering in a short range.
Praseodymium oxide prices held steady from the previous week. The week finished with no movement for rare earth carbonate. Following a steady week, prices for samarium oxide closed flat. Terbium metal traded sideways last week, hovering in a short range.
The price of terbium oxide did not change since the previous week. Prices for yttria remained constant. Yttrium remained essentially flat from 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.