The World Trade Organization (WTO) will give its first verdict this week about a complaint against China’s rare earths export restrictions filed by the European Union (EU), the US and Japan in 2012. The plaintive parties expect that the WTO will condemn Chinese export restrictions as violating free trade rules.
China set the export quotas after a territorial dispute between with Japan about the Senkaku islands in 2010.
Yttria finished as the week’s biggest mover on the weekly Rare Earths MMI® after dropping 9.1 percent and landing at CNY 60,000 ($9,638) per metric ton. Cerium oxide dropped 8.3 percent over the past week to CNY 22,000 ($3,534) per metric ton. The past week saw europium oxide close at CNY 4,300 ($690.73) per kilogram after a 4.4 percent decline.
Lanthanum oxide weakened by 4.3 percent to land at CNY 22,000 ($3,534) per metric ton. At CNY 1,850 ($297.17) per kilogram, the week finished with no movement for dysprosium oxide. Dysprosium oxide remained essentially flat from the previous week at CNY 1,850 ($297.17) per kilogram. Following a steady week, prices for neodymium closed flat at CNY 430,000 ($69,073) per metric ton.
Praseodymium neodymium oxide prices held steady from the previous week at CNY 335,000 ($53,813) per metric ton. Closing at CNY 580,000 ($93,168) per metric ton, praseodymium oxide remained unchanged for the week. Prices for rare earth carbonate remained constant, closing the week at CNY 25,000 ($4,016) per metric ton. At CNY 18,500 ($2,972) per metric ton, the price of samarium oxide did not change since the previous week.
At CNY 4,900 ($787.11) per kilogram, the week finished with no movement for terbium metal. Terbium oxide traded sideways last week, hovering around CNY 3,500 ($562.22) per kilogram. Yttrium remained essentially flat from the previous week at CNY 290.00 ($46.58) per kilogram.
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.