China Daily reported that China’s Ministry of Commerce has released this year’s second round of rare earth export quotas. Though demand for the metals is on the rise, it looks like the ministry has no plan to raise quotas.
It was another rough week for the rare metals as Taiwanese silicon solar panel manufacturers lowered prices as import duties on competing Chinese panels coming into the US went into effect. Taiwan-based polycrystalline silicon solar cell makers have lowered quotes from US$0.40-0.41/Watt in early June to US$0.35/Watt currently due to large decreases in orders from China-based PV module makers, industry sources told Digitimes.
A 3.7 percent decline in neodymium made it the biggest mover of the week, closing at CNY 390,000 ($62,840) per metric ton on the weekly Rare Earths MMI®. Terbium metal prices were off slightly at CNY 4,200 ($676.73) per kilogram, down from CNY 4,300 ($693.03) a week ago. At CNY 18,500 ($2,981) per metric ton, the price of cerium oxide did not change since the previous week.
Dysprosium oxide traded sideways last week, hovering around CNY 1,450 ($233.63) per kilogram. Europium oxide remained essentially flat from the previous week at CNY 3,300 ($531.72) per kilogram. Europium oxide prices held steady from the previous week at CNY 3,300 ($531.72) per kilogram. Following a steady week, prices for lanthanum oxide closed flat at CNY 18,000 ($2,900) per metric ton.
Prices for praseodymium neodymium oxide remained constant, closing the week at CNY 305,000 ($49,144) per metric ton. Closing at CNY 580,000 ($93,454) per metric ton, praseodymium oxide remained unchanged for the week. At CNY 25,000 ($4,028) per metric ton, the week finished with no movement for rare earth carbonate. At CNY 18,500 ($2,981) per metric ton, the price of samarium oxide did not change since the previous week.
Prices for terbium oxide remained constant, closing the week at CNY 3,000 ($483.38) per kilogram. Yttria prices held steady from the previous week at CNY 42,000 ($6,767) per metric ton. Following a steady week, prices for yttrium closed flat at CNY 280.00 ($45.12) 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.