Japanese import of rare earth was 323 tonnes in August, which was the lowest level in 13 months, according to Ministry of Finance. Chinese severer export control impacted on the import while Chinese exporters raised the export price or hold the inventory to take chance under the tight supply. Japanese rare earth import unit price increased to more than double of a year earlier level.
Chinese government reduced the export quota by 40% for 2010 from 2009. Japanese rare earth import halved in August from June and July level while the import decreased by only 18% from a year earlier level under slow demand. Chinese exporters try to hold the inventory with expectation for higher price. International price of neodymium metal reached US$ 75 per kilogram at end of August, which was 2.5 times of the level at the beginning of the year. However, serious problem is volume, not price. A rare metal trading firm source said the firm cannot buy any dysprosium. Chinese exporters hold the inventory to gain higher price and the price increased to more than US$ 370, which was 2.5 times of the level in the beginning of the year. Chinese severer export regulation impacted heavily on rare earth oxide supply. Japanese import of cerium oxide was more than 300 tonnes per month through August, which was 30% lower than March-May level. Chinese exporters try to maximize the profit by focusing on higher priced rare earth metals while they reduce the trading of cheaper priced rare earth oxide. Japanese import unit price increased by 60% for cerium oxide and to 3 times for yttrium oxide and lanthanum oxide in August from a year earlier level.Japan Steel Scrap Composite Prices (Sangyo Press)
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