Perhaps there was a reason other than the World Trade Organization for China ending its rare earths export quota system.
China exported 1,457 metric tons of rare earths in January, down 49% from a year earlier reports the Beijing Times.
The report, citing a source at the General Administration of Customs, notes that the total value of rare earth exports in the month totaled 124 million yuan, down 49.5% from a year earlier.
According to previously released data, China exported a total of 28,000 mt of rare earth in 2014, an increase of 27.3%.
Despite the increase in exports, the total value was 2.3 billion yuan, down 35.6%.
The week’s biggest mover on the weekly Rare Earths MMI®, terbium metal jumped 9.1% to close at CNY 4,800 ($769.11) per kilogram. At CNY 3,900 ($624.90) per kilogram, the price of terbium oxide finished the week 2.6% higher. Closing out the third week of rising prices, the price of praseodymium neodymium oxide increased by 0.7%, landing at CNY 302,000 ($48,390) per metric ton.
The price of dysprosium oxide rose 0.6% over the past week to CNY 1,670 ($267.59) per kilogram. This was the third week in a row of increasing prices. Following a steady week, prices for cerium oxide closed flat at CNY 12,500 ($2,003) per metric ton. At CNY 12,500 ($2,003) per metric ton, the price of cerium oxide did not change since the previous week. Closing at CNY 1,800 ($288.42) per kilogram, europium oxide remained unchanged for the week.
Neodymium traded sideways last week, hovering around CNY 385,000 ($61,689) per metric ton. Prices for neodymium oxide remained constant, closing the week at CNY 300,000 ($48,069) per metric ton. Praseodymium oxide remained essentially flat from the previous week at CNY 400,000 ($64,092) per metric ton. Following a steady week, prices for rare earth carbonate closed flat at CNY 25,000 ($4,006) per metric ton.
At CNY 18,000 ($2,884) per metric ton, the price of samarium oxide did not change since the previous week. Yttria prices held steady from the previous week at CNY 35,000 ($5,608) per metric ton. Prices for yttrium remained constant, closing the week at CNY 270.00 ($43.26) 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.