Rare Earth Prices Soar Amid Gov't Consolidation

(Beijing) -- Rare earth prices have soared starting in 2011 amid government efforts to consolidate the sector for more pricing power in the global market.

As of June 10, among light rare earth elements, neodymium rose to 1.49 million yuan per ton, up 339.7 percent from the beginning of this year, while lanthanum oxide grew 413.8 percent to 149,000 yuan per ton in the same period, according to data from CITIC Securities and China Commodity Marketplace.