Rare Earth Prices Hit Record High in China

The price of rare earths hit a record high this week as demand has outpaced supply in China, the world’s top producer of the elements crucial to many cutting-edge products.

An index measuring the prices in China of 21 rare earth oxides and combination products published by the Association of China Rare Earth Industry rocketed 99% from about this time last year to reach 426.75, setting a new record. On the first day this year for which the association gives a figure, Jan. 4, the index was around 340.