Export prices for rare earth minerals from China, source of over 95% of global rare earth production, have continued to escalate in recent weeks, as suppliers within China cash in from strong global demand and restrictions on export quotas.
Industry sources report that in the past month alone Chinese FOB prices for low-value cerium oxide (99%, bulk purchases), a material used in flat panel polishing powders, have increased to as much as $130/kg, up from a range of just $4.7-5.9/kg in April last year.
A European processor of Chinese cerium oxide told IM: “Today’s price doesn’t reflect the real value of cerium oxide of about $20/tonne, but rather the cost of the export quota which accounts for around...