Lower rare earths prices and the increased availability of rare-earth compounds led to increased US consumption in 2014, the US Geological Survey (USGS) has found.
However, in its latest mineral commodity summary for the abundant group of 17 elements composed of scandium, yttrium and the lanthanides, the USGS noted that increased domestic output of separated rare-earth products was hampered by technical difficulties in the ramp up of new production capacity, according to Mining Weekly.
The week’s biggest mover on the weekly Rare Earths MMI® was the price of dysprosium oxide, which saw a 7.8% increase to CNY 1,800 ($288.62) per kilogram. Last week marked the fourth in a row of rising prices for the metal. Finishing at CNY 5,100 ($817.76) per kilogram for the week, terbium metal climbed 6.2% increase. Cerium oxide prices climbed to CNY 13,000 ($2,084) per metric ton, up from CNY 12,500 ($2,003) a week ago.
Neodymium oxide closed last week at CNY 310,000 ($49,707) per metric ton, after a 3.3% rise in price. The price of praseodymium neodymium oxide rose 2.6% over the past week to CNY 310,000 ($49,707) per metric ton. This was the third week in a row of increasing prices. The price of praseodymium neodymium oxide rose 2.6% this week, closing out the third week at CNY 310,000 ($49,707) per metric ton. Neodymium saw its price rise 2.6% over the past week to CNY 395,000 ($63,336) per metric ton.
Europium oxide remained essentially flat from the previous week at CNY 1,800 ($288.62) per kilogram. Closing at CNY 13,500 ($2,165) per metric ton, lanthanum oxide remained unchanged for the week. At CNY 400,000 ($64,138) per metric ton, the price of praseodymium oxide did not change since the previous week. At CNY 25,000 ($4,009) per metric ton, the week finished with no movement for rare earth carbonate.
Following a steady week, prices for samarium oxide closed flat at CNY 18,000 ($2,886) per metric ton. Prices for yttria remained constant, closing the week at CNY 35,000 ($5,612) per metric ton. Yttrium prices held steady from the previous week at CNY 270.00 ($43.29) per kilogram.
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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.