Chinese Rare Earth Industry is Expected to Suffer a Loss for Its 2012 Performance

SHANGHAI, March. 21 (SMM) - The worst days for rare earth enterprises seem to have arrived. With the continuous disclosure of 2012 performance for listed companies, the non-ferrous metals industry is predicted to suffer Pre-losing crisis.

On 29 January, Baotou Steel Rare Earth released its 2012 annual financial pre-cut announcement. The preliminary estimates from the company's financial sector showed that the 2012 annual net profit attributable to shareholders of listed companies is expected to decline by 50-60%.

In fact, the substantial loss of Baotou Steel Rare-profit is not the only case in the rare earth industry. Rising Non-ferrous Metals released 2012 annual financial pre-cut announcement. The preliminary estimates from the company's financial sector showed that 2012 is expected to achieve a net profit attributable to shareholders of listed companies to 60% -80% less than the same period for 2011.