Rare Earths MMI®: Japan Will Start Importing Rare Earths From India

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Japan and India will next week agree to jointly produce mixed rare earths, with Japan set to start importing from India in 2015 as it tries to wean itself of its reliance on China, the Nikkei business daily said on Thursday.

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Japanese Prime Minister Shinzo Abe and Indian counterpart Narendra Modi will agree on the joint production at their summit meeting in Tokyo on Monday, the report said, without citing sources.

Cerium oxide’s 6.2 percent decline made it this week’s biggest mover on the weekly Rare Earths MMI®, closing at CNY 15,000 ($2,442) per metric ton. The price of lanthanum oxide decreased to CNY 16,000 ($2,605) per metric ton, a 5.9 percent decline from the previous week. Praseodymium oxide dropped 3.6 percent over the past week to CNY 530,000 ($86,278) per metric ton.

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At CNY 1,460 ($237.67) per kilogram, the price of dysprosium oxide did not change since the previous week. Europium oxide remained essentially flat from the previous week at CNY 2,900 ($472.09) per kilogram. Following a steady week, prices for europium oxide closed flat at CNY 2,900 ($472.09) per kilogram. At CNY 390,000 ($63,488) per metric ton, the week finished with no movement for neodymium.

Prices for praseodymium neodymium oxide remained constant, closing the week at CNY 315,000 ($51,279) per metric ton. Rare earth carbonate prices held steady from the previous week at CNY 25,000 ($4,070) per metric ton. Samarium oxide traded sideways last week, hovering around CNY 18,500 ($3,012) per metric ton. Closing at CNY 4,200 ($683.71) per kilogram, terbium metal remained unchanged for the week.

At CNY 2,800 ($455.81) per kilogram, the week finished with no movement for terbium oxide. Following a steady week, prices for yttria closed flat at CNY 40,000 ($6,512) per metric ton. Yttrium traded sideways last week, hovering around CNY 280.00 ($45.58) 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.

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