China’s 2010 rare earth gambit resulted in an adverse World Trade Organization judgment and a market response that caused prices to fall and badly eroded China’s market dominance of rare earths.
China acquiescing to the WTO judgment early this year suddenly seems like less of a concession than an acceptance of reality, Tufts Professor Daniel Drezner writes in an Washington Post Op-Ed.
A 2.4% decline in praseodymium oxide made it the biggest mover of the week, closing at CNY 400,000 ($64,428) per metric ton on the weekly Rare Earths MMI®. Closing at CNY 354,000 ($57,018) per metric ton for the week, neodymium rose by a slight 0.6%. At CNY 12,500 ($2,013) per metric ton, the week finished with no movement for cerium oxide.
Dysprosium oxide traded sideways last week, hovering around CNY 1,530 ($246.44) per kilogram. At CNY 1,650 ($265.76) per kilogram, the week finished with no movement for europium oxide. Prices for europium oxide remained constant, closing the week at CNY 1,650 ($265.76) per kilogram. Closing at CNY 13,000 ($2,094) per metric ton, lanthanum oxide remained unchanged for the week.
Praseodymium neodymium oxide remained essentially flat from the previous week at CNY 285,000 ($45,905) per metric ton. Rare earth carbonate prices held steady from the previous week at CNY 25,000 ($4,027) per metric ton. At CNY 17,000 ($2,738) per metric ton, the price of samarium oxide did not change since the previous week. Terbium metal traded sideways last week, hovering around CNY 4,000 ($644.28) per kilogram.
Following a steady week, prices for terbium oxide closed flat at CNY 3,100 ($499.31) per kilogram. Prices for yttria remained constant, closing the week at CNY 34,000 ($5,476) per metric ton. Yttrium prices held steady from the previous week at CNY 270.00 ($43.49) 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.