China’s rare earth price hit highest in 20 months amid mining suspension in Myanmar
COMMODITIES DATA
China’s rare earth price hit highest in 20 months amid mining suspension in Myanmar
COMMODITIES DATA

China’s rare earth price hit highest in 20 months amid mining suspension in Myanmar

 

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China’s rare earth prices surged to the highest in 20 months, as mining suspension in major producer Myanmar sparked stockpiling ahead of the peak consumption season.

Prices of dysprosium oxide jumped to 2,610 yuan per kilogramme on Wednesday, the highest since May 2022, and prices of terbium oxide rose to 8,600 yuan a kilogramme, highest since July 3, according to data from by commodity consultancy Shanghai Metals Market.

Mines in Myanmar’s Pangwa region in Kachin State, the country’s biggest rare earth production base, have been closed from Monday in preparation for inspections during Sept 6-7, and they have not resumed production, now waiting for a notice on the next step, the consultancy said.