Rare Earths MMI®: USGS Says REE Consumption Increased in 2014

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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.

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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.

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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.

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.

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