Rare Earth Prices Continue to Squeeze Upwards
Source: Citywire, James Phillipps (8/12/11)
"Rare earth prices are expected to continue to rise over the next two years until new supply lines go live."
Rare earth prices are expected to continue to rise over the next two years until new supply lines go live, with China continuing to have a stranglehold on these commodities.
The stringent quotas China has placed on exports as it stockpiles the valuable metals has prompted several leading global lighting companies to go public in their condemnation of its pricing policies.
Rare earth oxides are a critical component of fluorescent lighting systems and the recent shortage of these materials has had a direct and dramatic impact on phosphor availability and cost, with China controlling 97% of the world supply.
GE Lighting, part of General Electric, has pointed out that if rare earths were coffee, "a latte that cost €1.50 just a few months ago would now cost almost €16.". . .View Full Article