Unit price of Japanese rare earth metals import hit 10,000 yen per kilogram for the first time in July, according to the trade statistics by Ministry of Finance. Chinese exporters and suppliers speculatively raised the selling price with the background of Chinese government’s export regulating policy on rare earths and rare metals. Among rare earth elements, import unit price of yttrium oxide also hit 10,000 yen per kg.
Import unit price of rare earth metals was 13,317 yen, 5.3 times of a year earlier. Market price stays high such for neodymium which is one of main materials of motor magnets inside electric vehicles or energy-saving home appliances. Market price is also speculatively surging for dysprosium, a major additive material. Among rare earth elements, import unit price of yttrium oxide jumped by around 7 times year-on-year and hit 11,144 yen. Import unit price of lanthanum oxide also approached 10,000 yen which is mainly used for optical glasses. Chinese government has strengthened export volume control policy especially for rare earths, for instance, large reduction of export licenses. Chinese exporters focused on sales increase of high value added products such as magnet materials in order to maximize their profits despite of regulated export license volume. Thus supply of rare earth oxide elements tightened and the market price surged though the reserves are relatively plenty. Import unit price also maintains high for tungsten. Market price of ammonium paratungstate (APT), the intermediate material, currently hit the record high since ore price is surging in China and market players are speculatively raising the price. Japanese import unit price of tungstate was 3,365 yen per kg in July, almost double from a year earlier.