This week, China Daily reported that the 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.
Sohrab Darabshaw also reported this week that India plans to use a new titanium plant, planned for its coast, to up production of titanium sponge, Ilmenite and other rare earth metals found there.
After drifting 3.3 percent, terbium oxide dropped to CNY 2,900 ($468.28) per kilogram making it the biggest mover on the weekly Rare Earths MMI® this week. Europium oxide finished the week at CNY 3,200 ($516.73) per kilogram after falling 3.0 percent. Neodymium oxide fell 1.6 percent over the past week to CNY 300,000 ($48,443) per metric ton.
Cerium oxide prices held steady from the previous week at CNY 18,500 ($2,987) per metric ton. Following a steady week, prices for dysprosium oxide closed flat at CNY 1,450 ($234.14) per kilogram. Dysprosium oxide traded sideways last week, hovering around CNY 1,450 ($234.14) per kilogram. At CNY 18,000 ($2,907) per metric ton, the price of lanthanum oxide did not change since the previous week.
Prices for praseodymium neodymium oxide remained constant, closing the week at CNY 305,000 ($49,251) per metric ton. Praseodymium oxide remained essentially flat from the previous week at CNY 580,000 ($93,657) per metric ton. At CNY 25,000 ($4,037) per metric ton, the price of rare earth carbonate did not change since the previous week. Samarium oxide remained essentially flat from the previous week at CNY 18,500 ($2,987) per metric ton.
Terbium metal prices held steady from the previous week at CNY 4,200 ($678.20) per kilogram. At CNY 42,000 ($6,782) per metric ton, the week finished with no movement for yttria. Following a steady week, prices for yttrium closed flat at CNY 280.00 ($45.21) 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.