Japan Rare Earth Import Price Increases to 3.6 Times

Japanese averaged rare earths import unit price increased to 3.6 times at 5,337 yen per kilogram in January from a year earlier, according to Ministry of Finance. Chinese rare earth exporters increased the selling price and Japanese importers and users accepted higher price to maintain stable supply.

Chinese government announced to decrease rare earths export volume quota by around 35% for first export license notification for 2011 from the first batch in 2010. Chinese exporters are increasing export price to Japan and other countries under limited availability when the government plans to reduce the export volume.

Japanese rare earth users including magnet alloy makers are willing to purchase rare earth even at higher price when they secure the requirement to maintain stable supply. One Japanese rare metal trader said the firm booked metallic neodymium at more than US$ 180 per kg which is about 6 times of the level in a year earlier.

Averaged cerium oxide import price increased to more than 9 times in January from a year earlier. The yttrium oxide import price increased to 4 times and the lanthanum oxide import price increased to 8 times.