China Customs statistics show that the average price of metals 44,361 dollars per tonne, compared with the average price of 23,603 dollars last year, up nearly doubled the price is several times the first two months of 2010. Australia's Lynas Corp. Follow the eight rare earth metal than the average price on Monday, up 91% last year.
China's statistical data highlighted the strategic sectors of Rare Earth Beijing tightened control policy continues to lead the market of rare earth warming. Rare is the general term for 17 kinds of minerals, from mobile phones to be used for military equipment and other technology. China controls 95% of world's rare earth production over the past year, caused by limited supply of rare earth mining world competing.
Japan's disaster has become a rare earth industry, a major concern. Rare earth is used the world's third largest economy in the production of various products, including cars. Cerium is used in automotive glass, batteries lanthanum, neodymium used in electronic components. generator in car,magnet motor in industry.Japan's ongoing plant closures may lead to reduced demand for Japan's rare earth. Japan's large purchases of rare earth in recent years, reflecting its concern that Beijing's policies may make some material not available.
Japan quake causes some exploration company's share price fell, reflecting investor concern that any disruption in demand in Japan would be detrimental to earth prices, the already high risk of rare earth ore is more difficult to obtain funding.