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Rare Earth Prices in China Rise in July, Further Price Spike ExpectedDate:2013-08-06

SHANGHAI, Aug. 5 (SMM) –

Heavy Rare Earth Prices Soar 70% in July
China’s Ministry of Industry & Information Technology (MIIT) is planning to team up with other departments of the State Council to crack down on illegal mining in rare earth industry. This pushed prices for heavy rare earth up by 70% in July.   
 
Rare Earth Prices in China Rise in July, Further Price Spike Expected
China saw a rise in the prices for various categories of rare earth in July. Rare earth prices are poised to advance further as China’s crackdown on illegal mining in the industry will intensify.  

Crackdown on Illicit Rare Earth Mining in Jiangxi and Guangdong Pushes Rare Earth Prices Up
Jiangxi and Guangdong’s crackdown on illicit rare earth mining is the major contributor to the recent uptick in rare earth prices . Meanwhile, WTO’s litigation against China’s rare earth exports will also force the Chinese government to intensify crackdown in the industry.

Praseodymium and Neodymium Prices Hold Stable, Trading Stagnant
Praseodymium and neodymium prices have been stable recently. Some suppliers held offers firm out of growing optimism over future prices, but higher prices depressed transaction volumes. This left market players to hold to the sidelines.