Prices for rare earth elements continued to trade, at best, flat this week while others, such as europium oxide, saw big weekly slides. This belies the fact that while many analysts are now giving rosy forecasts about rare earths prices, that demand has generally waned while producers of cell phones, TVs and other former rare earths consumers have found other metal combinations to replace the once-sky-high-priced rare elements. We continue to caution buyers to not expect a sudden turn for rare earths until demand goes back up.
Following a 5.3 percent decline to CNY 3,600 ($578.39) per kilogram, europium oxide finished as the week’s biggest mover on the weekly Rare Earths MMI®. The price of dysprosium oxide dropped 3.1 percent this week, closing out the third consecutive week of falling prices at CNY 1,550 ($249.03) per kilogram. The past week saw terbium oxide close at CNY 3,100 ($498.06) per kilogram after a 3.1 percent decline.
For the third week in a row, the price of neodymium oxide dropped, falling 1.6 percent to CNY 310,000 ($49,806) per metric ton. The price of praseodymium neodymium oxide fell 1.6 percent over the past week to CNY 315,000 ($50,609) per metric ton. This was the third week in a row of declining prices. Closing out the third week of declining prices, the price of praseodymium neodymium oxide dropped by 1.6 percent, finishing at CNY 315,000 ($50,609) per metric ton. Cerium oxide remained essentially flat from the previous week at CNY 20,000 ($3,213) per metric ton.
Following a steady week, prices for neodymium closed flat at CNY 410,000 ($65,873) per metric ton. At CNY 580,000 ($93,186) per metric ton, the week finished with no movement for praseodymium oxide. At CNY 25,000 ($4,017) per metric ton, the price of rare earth carbonate did not change since the previous week. Closing at CNY 18,500 ($2,972) per metric ton, samarium oxide remained unchanged for the week.
Terbium metal prices held steady from the previous week at CNY 4,600 ($739.06) per kilogram. Prices for yttria remained constant, closing the week at CNY 50,000 ($8,033) per metric ton. Yttrium remained essentially flat from the previous week at CNY 290.00 ($46.59) 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.