Caixin
Feb 16, 2022 07:49 PM
BUSINESS

Rare Earth Prices Hit Record High in China

A truck passes through a rare earth mine in Xinjiang Uygur autonomous region in 2016. Photo: VCG
A truck passes through a rare earth mine in Xinjiang Uygur autonomous region in 2016. Photo: VCG

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.

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