Chinese rare earth prices jumped to their highest in 20 months, as mining suspension in major producer Myanmar sparked stockpiling ahead of the peak consumption season, analysts said on Thursday, reprots Reuters. Prices of dysprosium oxide leapt to RMB 2,610 ($356) per kilogramme on Wednesday, the highest since May 2022, latest data provided by Shanghai Metals Market (SMM) on LSEG Eikon showed.
Terbium oxide prices rose to RMB 8,600 a kilogramme, a level unseen since July 3.
Mines in Myanmar’s Pangwa region in Kachin State, the country’s biggest source of rare earth, have been closed from Monday in preparation for inspections during Sept. 6-7, consultancy SMM said in a report on Thursday.
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