Rare Earths Fall as Toyota Develops Alternatives: Commodities

Bloomberg reported that large companies like Toyota (TYO:7203) and General Electric (NYSE:GE) are reducing their dependence on rare earths, pushing metals prices down.

The market news is quoted as saying:

Prices for cerium and lanthanum, the most abundant rare- earth elements, will drop by 50 percent in 12 months, Christopher Ecclestone, an analyst at Hallgarten & Co. in New York, has forecast. Neodymium and praseodymium, metals used in permanent rare-earth magnets, may fall as much as 15 percent, he said.

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