Metals News
Medium-to-Heavy Rare Earth Supply Tightens
industry news
Apr 23,2013

SHANGHAI, Apr. 23 (SMM) – The Association of China Rare Earth Industry held its second session of the First Member and Director Meeting on April 21st, 2013 in Shanghai, with the Ministry of Industry and Information Technology Vice President Su Bo attending the meeting and speaking.

Su Bo pointed out with joint endeavor of the State Council, local governments, industry association and rare earth enterprises, the target of “establishing standardized orders for rare earth exploration, smelting and separation and market trading, and building an unified, regular and efficient management system for the rare earth industry in 1-2 years” set in the Proposals Regarding Promoting Sustainable and Healthy Development of the Rare Earth Industry promulgated by the State Council in 2011 was generally achieved. The rare earth industry maintains prosperous development, which is mirrored in enhanced management, standardized industry orders, improving operation quality and rising consolidation rate.

Su Bo emphasized that rare earth consumption will grow further in the foreseeable future as global technology advances and strategic emerging industries develop rapidly, and medium-to-heavy rare earth supply will tighten, with international competitions of preliminary rare earth products becoming fiercer. The execution of the Proposals Regarding Promoting Sustainable and Healthy Development of the Rare Earth Industry has entered a crucial stage, focusing emphasis on accelerating industry policy adjustments and standardizing industry management work. The rare earth industry put its emphasis on accelerating construction of large rare earth groups, cracking down on illegal operation, pushing high-end technology researching and industrialization and enhancing construction of regulations and rules this year.

Su Bo also hopes that the Association of China Rare Earth Industry will enhance self-construction, increasing serving ability, and prompting its member enterprises to execute national policies. (Edited by SMM)

rare earth supply
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