Canada Wants 20% of Global Rare Earths Supply by 2020

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Canadian industry want to secure 20% of global rare earths supply by 2018. China currently produces some 90% of the world’s rare earths – used in a variety of industries including green technology, defense systems and consumer electronics – and also consumes the bulk of global production.

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In January a new industry group called Canadian Rare Earth Elements Network, was established in cooperation with Natural Resources Canada to develop and research the sector. Canada’s parliament launched a study of the country’s REE industry in November which was released last week.

This past week, yttria dropped 10.0 percent on the weekly Rare Earths MMI®, landing at CNY 45,000 ($7,234) per metric ton as the week’s biggest mover. The price of dysprosium oxide fell 5.2 percent over the past week to CNY 1,470 ($236.31) per kilogram. This was the fourth week in a row of declining prices. Terbium metal finished the week at CNY 4,400 ($707.32) per kilogram after falling 4.3 percent.

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Yttrium dropped 3.4 percent over the past week to CNY 280.00 ($45.01) per kilogram. The price of neodymium oxide fell 1.6 percent over the past week to CNY 305,000 ($49,030) per metric ton. This was the fourth week in a row of declining prices. The price of neodymium oxide fell 1.6 percent over the past week to CNY 305,000 ($49,030) per metric ton. This was the fourth week in a row of declining prices. The price of praseodymium neodymium oxide fell 1.6 percent over the past week to CNY 310,000 ($49,834) per metric ton. This was the fourth week in a row of declining prices.

Closing at CNY 20,000 ($3,215) per metric ton, cerium oxide remained unchanged for the week. Europium oxide prices held steady from the previous week at CNY 3,600 ($578.72) per kilogram. At CNY 19,500 ($3,135) per metric ton, the price of lanthanum oxide did not change since the previous week. Following a steady week, prices for praseodymium oxide closed flat at CNY 580,000 ($93,238) per metric ton.

At CNY 25,000 ($4,019) per metric ton, the week finished with no movement for rare earth carbonate. Prices for samarium oxide remained constant, closing the week at CNY 18,500 ($2,974) per metric ton. Terbium oxide remained essentially flat from the previous week at CNY 3,100 ($498.34) 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.

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