China Tibet online reported that in the most recent developments regarding consolidation of the rare earths industry in China, Baogang Rare Earth Group will change its name to China North Rare Earth Group Co. Ltd. after making “significant progress” merging with 5 smaller companies in north China’s Inner Mongolia Autonomous Region and Gansu Province.
BREG dominates the Chinese market of light rare earth products, and is a leading rare earth producer and processor globally. The regrouping drive will help integrate resources and create a favorable environment for domestic companies, said Yang Zhanfeng, dean of Baotou Research Institute of Rare Earths.
Following a 7.9% decline to CNY 1,750 ($283.19) per kilogram, europium oxide finished as the week’s biggest mover on the weekly Rare Earths MMI®. The price of terbium oxide rose 1.7% this week, closing out the third week at CNY 3,000 ($485.47) per kilogram. Neodymium oxide rose 1.5% over the past week to CNY 270,000 ($43,692) per metric ton.
Praseodymium neodymium oxide saw its price rise 1.4% over the past week to CNY 280,000 ($45,310) per metric ton. Dysprosium oxide prices ticked up 1.3% over the past week to CNY 1,560 ($252.44) per kilogram. The price of dysprosium oxide increased by a slight 1.3% over the past week to CNY 1,560 ($252.44) per kilogram. Neodymium gained a slight 0.3% this past week, finishing at CNY 346,000 ($55,991) per metric ton.
Lanthanum oxide prices held steady from the previous week at CNY 13,000 ($2,104) per metric ton. Praseodymium oxide remained essentially flat from the previous week at CNY 420,000 ($67,966) per metric ton. At CNY 25,000 ($4,046) per metric ton, the price of rare earth carbonate did not change since the previous week. Following a steady week, prices for samarium oxide closed flat at CNY 17,000 ($2,751) per metric ton.
Terbium metal prices held steady from the previous week at CNY 3,900 ($631.11) per kilogram. Following a steady week, prices for yttria closed flat at CNY 34,000 ($5,502) per metric ton. At CNY 270.00 ($43.69) per kilogram, the week finished with no movement for yttrium.
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.