MetalMiner Editor-At-Large Stuart Burns wrote an excellent analysis this week on how China is finally getting its house in order regarding rare earth resources, even if it has taken a WTO ruling to help the process along.
In Western Australia, a new rare earths mine was approved in Kimberley. Northern Minerals Limited wants to produce 4,000 tons a year of high-purity rare earth oxide at Browns Range, south-east of Halls Creek. The Australian EPA yesterday recommended the Environment Minister approve the project, as long as management plans are put in place to manage radiation and the impact on native animals.
Following a 6.5 percent decline to CNY 2,900 ($471.53) per kilogram, europium oxide finished as the week’s biggest mover on the weekly Rare Earths MMI®. The price of cerium oxide dropped 5.7 percent this week, closing out the third consecutive week of falling prices at CNY 16,500 ($2,683) per metric ton. Yttria finished the week at CNY 40,000 ($6,504) per metric ton after falling 4.8 percent.
After a 2.8 percent decline, lanthanum oxide closed out the week at CNY 17,500 ($2,845) per metric ton. Praseodymium oxide prices were off slightly at CNY 560,000 ($91,054) per metric ton, down from CNY 575,000 ($93,358) a week ago. The price of praseodymium oxide declined 2.6 percent over the past week, settling at CNY 560,000 ($91,054) per metric ton. Neodymium oxide fell 1.7 percent over the past week to CNY 295,000 ($47,966) per metric ton.
Closing at CNY 390,000 ($63,412) per metric ton, neodymium remained unchanged for the week. At CNY 315,000 ($51,218) per metric ton, the price of praseodymium neodymium oxide did not change since the previous week. Rare earth carbonate prices held steady from the previous week at CNY 25,000 ($4,065) per metric ton. At CNY 18,500 ($3,008) per metric ton, the week finished with no movement for samarium oxide.
Following a steady week, prices for terbium metal closed flat at CNY 4,200 ($682.90) per kilogram. Terbium oxide remained essentially flat from the previous week at CNY 2,800 ($455.27) per kilogram. Yttrium traded sideways last week, hovering around CNY 280.00 ($45.53) 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.