Transparency Market Research, in its latest research report states that the global rare earth metals market will grow at a CAGR of 13.0% from 2012 to 2018. This market was valued at $ 3.93 billion in 2012, and is expected to reach $ 8.19 billion by 2018.
Additionally, the volumes of global rare earth metals are expected to go beyond 290 kilotons by 2018. The report titled, “Rare Earth Metals Market – Global Industry Analysis, Applications (Magnets, Catalysts, Metallurgy, Phosphors, Ceramics & Others), Size, Share, Growth, Trends and Forecast, 2012 – 2018”, is available on the company’s website.
The biggest mover this week was europium oxide with a 7.7% fall on the weekly Rare Earths MMI® to close the week at CNY 2,400 ($390.77) per kilogram. The price of lanthanum oxide decreased to CNY 15,000 ($2,442) per metric ton, a 6.2% decline from the previous week. Terbium metal saw a 5.0% drop-off this week to end at CNY 3,800 ($618.72) per kilogram.
Neodymium oxide prices fell to CNY 285,000 ($46,404) per metric ton, down from CNY 295,000 ($47,546) a week ago. The price of praseodymium neodymium oxide declined 3.0% over the past week, settling at CNY 296,000 ($48,195) per metric ton. Praseodymium neodymium oxide fell 3.0% over the past week to CNY 296,000 ($48,195) per metric ton. After a 1.9% decline, praseodymium oxide closed out the week at CNY 520,000 ($84,666) per metric ton.
Neodymium prices were off slightly at CNY 370,000 ($60,243) per metric ton, down from CNY 375,000 ($60,439) a week ago. Cerium oxide traded sideways last week, hovering around CNY 15,000 ($2,442) per metric ton. At CNY 1,450 ($236.09) per kilogram, the price of dysprosium oxide did not change since the previous week. Following a steady week, prices for rare earth carbonate closed flat at CNY 25,000 ($4,070) per metric ton.
Samarium oxide remained essentially flat from the previous week at CNY 18,500 ($3,012) per metric ton. Prices for yttria remained constant, closing the week at CNY 40,000 ($6,513) per metric ton. Yttrium prices held steady from the previous week at CNY 270.00 ($43.96) 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.