Fastmarkets launches heavy rare earth price in Europe to track fractured market

Market uncertainty has risen sharply following the introduction of Chinese export controls on products made from seven heavy rare earth elements, including gadolinium, on April 4. Fastmarkets has launched a new high-purity gadolinium oxide price in Europe – gadolinium oxide 99.99%- 99.999%, ex-warehouse Rotterdam, $/kg – to provide much needed transparency to a supply chain that serves consumers across sectors ranging from aerospace and energy to health care.

Additionally, the new European price will complement our existing high-purity gadolinium price MB-GD-0001 gadolinium oxide 99.99%- 99.999%, fob China, $/kg.

“Alternative rare earth prices are key to ensuring that a more robust and reliable supply chain for these elements becomes a reality,” Aclara Resources CEO Ramon Barua said in response to today’s announcement.  

“We are pleased to continue to expand our rare earth price suite and provide support to evolving supply chains at a time of unparalleled uncertainty. We will continue to explore opportunities to develop prices to meet the changing needs of the market.” said strategic markets editor technology metals, Caroline Messecar. 

Gadolinium plays an essential role across different sectors. In the health care industry it is used as a contrast agent in MRI (magnetic resonance imaging) to provide sharper and more detailed images. In the energy sector, gadolinium is used as a thermal barrier coating in gas turbines because of its high temperature and corrosion resistance. Gadolinium also has neutron absorbing properties and is used in radiation shielding and control rods in nuclear power plants.  

The aerospace sector uses gadolinium to improve the performance and durability of turbine blades and other engine components. 

Learn more about Fastmarkets’ suite of rare earth pricing services.