The prices of certain rare earth elements (REEs) are soaring again.
From Bloomberg (June 17) – “Rare Earth Prices Double on China, Industrial Minerals Says“:
“Dysprosium oxide, used in magnets, lasers and nuclear reactors, has risen to about $1,470 a kilogram from about $700- $740 at the start of the month…
…Europium oxide, used for its phosphorescent properties found in plasma TVs and energy-saving light bulbs, has risen to as much as $3,400 a kilogram from between $1,260-$1,300”
China’s efforts to gain further control over its rare earth industry (centralize) were partially blamed for the price run-up. Also note that rumors have surfaced that China is putting plans in place to create a strategic reserve for heavy REEs to complement its strategic reserve for light REEs.