Grupo Mexico is strongly considering the possibility of producing rare earths in Mexico, having recognized their strategic value and indispensability in the electronics, automotive and energy industries.
Grupo Mexico is Mexico’s largest mining company and the world’s third-largest copper miner. Results from research conducted by universities in Mexico have shown that there are economically viable rare earths deposits in the States of Sonora and Chihuahua as well as further south in Oaxaca and Chiapas.
Prices for cerium oxide didn’t move this week, staying around CNY 18,500 ($2,982) per metric ton. Other metals on the weekly Rare Earths MMI® followed suit. Following a steady week, prices for dysprosium oxide closed flat at CNY 1,450 ($233.70) per kilogram. Europium oxide traded sideways last week, hovering around CNY 3,300 ($531.86) per kilogram.
Prices for lanthanum oxide remained constant, closing the week at CNY 18,000 ($2,901) per metric ton. Neodymium traded sideways last week, hovering around CNY 405,000 ($65,274) per metric ton. Neodymium prices held steady from the previous week at CNY 405,000 ($65,274) per metric ton. At CNY 305,000 ($49,157) per metric ton, the week finished with no movement for neodymium oxide.
At CNY 580,000 ($93,479) per metric ton, the price of praseodymium oxide did not change since the previous week. Following a steady week, prices for rare earth carbonate closed flat at CNY 25,000 ($4,029) per metric ton. Closing at CNY 18,500 ($2,982) per metric ton, samarium oxide remained unchanged for the week. Terbium metal remained essentially flat from the previous week at CNY 4,300 ($693.03) per kilogram.
Prices for terbium oxide remained constant, closing the week at CNY 3,000 ($483.51) per kilogram. Following a steady week, prices for yttria closed flat at CNY 42,000 ($6,769) per metric ton. Yttrium prices held steady from the previous week at CNY 280.00 ($45.13) 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.