Fastmarkets set to launch new rare earth spot prices to capture global trade outside China

Chinese export controls and reduced supply of heavy rare earth products to Japan have the potential to permanently change the rare earth market. On March 19, Fastmarkets, an industry-leading cross-commodity price reporting agency, will launch three new prices to directly address the needs of this new market dynamic. 

These new prices are: 

*Dysprosium oxide 99.5%, cip global, $/kg 

*Terbium oxide 99.99%, cip global, $/kg 

*Ferro-dysprosium 80%, cip global, $/kg  

Fastmarkets CEO, Raju Daswani, said: “Our pricing and coverage of rare earths and other critical minerals is industry-leading. We are proud to support emerging and established markets with transparent pricing, robust analysis, and insightful coverage. Today, we are delighted to announce the launch of the first global prices for dysprosium and terbium”.  

Today, most trade in these products involves previously stockpiled material and there are extremely few sources of new production outside China. Japan needs a consistent flow of dysprosium and terbium products to feed its large magnet industry and support its expansion plans. Permanent magnet production capacity is starting to rise in the US and Europe, with more countries expected to follow. New and existing projects are racing to fill the supply gap for dysprosium and terbium.  

These new global prices will capture trade flows to Japan, the US, South Korea and all other importing countries. They will also support our existing warehouse prices in Europe and complement our Chinese export prices to provide the most comprehensive picture of global trade in heavy rare earth magnetic materials. 

Serra Verde Group CEO, Thras Moraitis, commented: “We welcome Fastmarkets’ decision to launch new benchmark prices for dysprosium and terbium. The development of transparent, independent, and internationally recognized benchmarks for critical rare earths by a respected price reporting agency such as Fastmarkets is an important step forward for the industry. Pricing mechanisms that reflect the emergence of new value chains and the accelerating evolution of the rare earths industry will be essential to facilitating global trade of these critical materials.” 

Find out how Fastmarkets can help you. 

*Dysprosium and terbium are used as additives in high-temperature neodymium iron boron rare earth permanent magnets for electric and hybrid vehicle traction motors.