China is finally getting its rare earth resources house in order, even if it has taken a WTO ruling to help the process along. MetalMiner Editor-At-Large Stuart Burns explains that contrary to recent press reports, it is fair to say China saw the writing on the wall a year or more back and has been busy trying to tale control of the sector.
The week’s biggest mover on the weekly Rare Earths MMI® was the price of cerium oxide, which saw a 3.0 percent decline to CNY 16,000 ($2,592) per metric ton. This week marked the third in a row of declining prices for the metal. Lanthanum oxide fell 2.9 percent over the past week to CNY 17,000 ($2,754) per metric ton. Closing out the third week of declining prices, the price of praseodymium oxide dropped by 1.8 percent, finishing at CNY 550,000 ($89,091) per metric ton.
At CNY 1,460 ($236.50) per kilogram, the price of dysprosium oxide did not change since the previous week. Europium oxide prices held steady from the previous week at CNY 2,900 ($469.75) per kilogram. At CNY 2,900 ($469.75) per kilogram, the week finished with no movement for europium oxide. Neodymium remained essentially flat from the previous week at CNY 390,000 ($63,174) per metric ton.
Following a steady week, prices for praseodymium neodymium oxide closed flat at CNY 315,000 ($51,025) per metric ton. Rare earth carbonate traded sideways last week, hovering around CNY 25,000 ($4,050) per metric ton. At CNY 18,500 ($2,997) per metric ton, the price of samarium oxide did not change since the previous week. Prices for terbium metal remained constant, closing the week at CNY 4,200 ($680.33) per kilogram.
Closing at CNY 2,800 ($453.56) per kilogram, terbium oxide remained unchanged for the week. Yttria traded sideways last week, hovering around CNY 40,000 ($6,479) per metric ton. Following a steady week, prices for yttrium closed flat at CNY 280.00 ($45.36) 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.