Rare earth prices fall this week

09:03, November 26, 2010      

Email | Print | Subscribe | Comments | Forum 

The price of rare earth metals fell this week, a change from an earlier price boom, National Business Daily reported Thursday.

"Prices fell recently for some rare earth metals and the largest drop was more than 10,000 yuan ($1,500) a ton", the newspaper reported citing an unnamed source in the rare earth business in East China's Jiangxi province.

The rare earth market saw fewer deals than earlier and a wait-and-see attitude is popular now, the newspaper quoted analysts as saying.

"The overall prices of rare earths were relatively stable this week, while the price of several metals rose," said Song Zhichao, a rare earth analyst at Toocle.cn, a website reporting on commodity trading prices.

But according to Song this may change soon.

"Many exporters will shift their resources to the domestic market due to reduced export quotas. The domestic market will have more supplies, which will make the prices fluctuate or even decline," said Song.

China's Ministry of Commerce on Nov 11 began accepting Chinese companies' applications for 2011 rare earth export quotas.

The prices of rare earth metals surged earlier when the regulator considered restrictions on rare earth exploitation. Neodymium prices surged to $92 per kilogram on Oct 19 from $41 per kilogram on April 20.

Rare earths are 17 chemical elements used in the production of flat-screen monitors, electric-car batteries, wind turbines, missiles and aerospace alloys.

Source: China Daily

(Editor:李佳)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Chinese Navy soldiers hold an evening party marking the upcoming 62nd National Day aboard Chinese Navy hospital ship "Peace Ark" in the Pacific on Sept. 28, 2011. The Chinese National Day falls on Oct. 1. (Xinhua/Zha Chunming)
  • Photo taken on Sept. 30, 2011 shows the crowd at the plaza of Beijing Railway Station in Beijing, capital of China. The railway transportation witnessed a travel peak with the approach of the seven-day National Day holidays on Friday. (Xinhua)
  • A man wearing high-heel shoes takes part in the 3rd annual Walk a Mile in Her Shoes, an event when men literally walk in women's shoes to raise awareness about ending violence against women, at Yonge-Dundas Square in Toronto, Canada, Sept. 29, 2011. (Xinhua/Zou Zheng)
  • Photo taken on Sept. 29, 2011 shows a cargo ship in danger on the sea near Zhuhai City, south China's Guangdong Province. Cargo ship Fangzhou 6 of Qingzhou of southwest China's Guangxi Zhuang Autonomous Region lost control after water stormed into its cabin due to Typhoon Nesat on the sea near Zhuhai Thursday, leaving 12 crew members in danger. Rescuers rushed to the ship and saved them by using a helicopter. (Xinhua)
  • Actress Gong Li poses for L'Officiel Magazine. (Xinhua Photo)
  • Demonstrators from the Occupy Wall Street campaign hold placards as they march in the financial district of New York September 29, 2011. After hundreds of protesters were denied access to some areas outside the New York Stock Exchange on September 17, demonstrators set up a rag-tag camp three blocks away. Zuccotti Park is a campground festooned with placards and anti-Wall Street slogans. The group is adding complaints of excessive police force against protesters and police treatment of ethnic minorities and Muslims to its grievances list, which includes bank bailouts, foreclosures and high unemployment. (Xinhua/Reuters Photo)
Hot Forum Discussion