As part of its pollution clean-up effort, China, which controls 90 percent of the global rare earths market, is studying the introduction of new taxes and regulations for them that are forecast to drive prices higher, Bloomberg News reported.
The measures will add to pressures loosening China’s stranglehold on the production of rare earths, 17 chemically similar elements used in products as varied as iPhones and hybrid cars.
Closing at CNY 1,610 ($257.55) per kilogram on the weekly Rare Earths MMI®, dysprosium oxide finished as the week’s biggest mover with a 2.4 percent decline. Neodymium oxide saw a 1.5 percent decline over the past week to CNY 320,000 ($51,189) per metric ton. Prices for cerium oxide remained constant, closing the week at CNY 20,500 ($3,279) per metric ton.
At CNY 4,000 ($639.87) per kilogram, the week finished with no movement for europium oxide. At CNY 19,500 ($3,119) per metric ton, the price of lanthanum oxide did not change since the previous week. Following a steady week, prices for lanthanum oxide closed flat at CNY 19,500 ($3,119) per metric ton. Neodymium traded sideways last week, hovering around CNY 415,000 ($66,386) per metric ton.
Closing at CNY 580,000 ($92,781) per metric ton, praseodymium oxide remained unchanged for the week. Rare earth carbonate remained essentially flat from the previous week at CNY 25,000 ($3,999) per metric ton. At CNY 18,500 ($2,959) per metric ton, the price of samarium oxide did not change since the previous week. Terbium metal remained essentially flat from the previous week at CNY 4,600 ($735.85) per kilogram.
Terbium oxide prices held steady from the previous week at CNY 3,200 ($511.89) per kilogram. Prices for yttria remained constant, closing the week at CNY 51,000 ($8,158) per metric ton. Yttrium traded sideways last week, hovering around CNY 290.00 ($46.39) 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.