The cost of many rare earth elements has defied analysts’ predictions with steep price increases since the beginning of the month. For instance in the last week, the price of dysprosium has risen from around $700 per kilogram up to $1,470. Bloomberg’s Jason Scott also reported on June 16th that the price of europium “has risen to as much as $3,400 a kilogram from between $1,260 and $1,300 [per kilogram].”
Numerous changes to Chinese mining and trade policies are being attributed to price rise. The changes revolve around the consolidation of rare earth producers in China. Chinese officials have stated their plans to consolidate the industry in an attempt reduce pollution, as well as illegal smuggling of the metals attributed to small artisanal mining firms.