SHANGHAI, Apr. 15 (SMM) –
Volume of Rare Earth Stocked by SRB Expected to Exceed Forecast
China’s State Reserve Bureau (SRB) has entered into agreement with Chalco, China Minmetals, Baotou Iron & Steel, Ganzhou Rare Earth Group, Xiamen Tungsten, and Guangdong Rising Nonferrous Metals, for purchasing rare earth for state reserves. Industry insiders believed the volume of rare earth purchased may exceed forecast, and prices will be at least 10% higher than market prices.
Several Mining Companies Raise Price Offers, Awaiting Stocking by SRB
Several mining companies, including China Minmetals, Guandong Rising Nonferrous, and Chalco offered high prices for rare earth after the WTO ruled that China's restrictions on rare earth exports are in violation of international trade law, driving up prices for some categories of rare earth products.
China Minmetals Rare Earth Continue to Increase Price for Rare Earth Oxides
China Minmetals Rare Earth raised prices for rare earth oxides April 10, with didymium oxide prices offered at 390,000 yuan per tonne, and dysprosium oxide prices at 2.05 million yuan per tonne, up 8% and 14% from April 2, respectively.
Prices of Rare Earth Fluorescent Powder LED Down 52-83%
Industry data showed that prices for cerium metal and terbium oxide – major rare earth products applied in LED – saw prices down 38.1% and 41.3%, respectively in March, with prices falling 52-83% compared with 2012’s highs.
China Rare Earth Exports Up 83.2% in Q1
China’s General Administration of Customs reported China exported 2,671 tonnes of rare earth in March, with value of 219.79 yuan million. Total exports during the first quarter grew by 83.2% YoY to 7,174 tonnes, with value at 584.16 million yuan, down 0.1%.