SHANGHAI, Jun. 20 (SMM) - The Baotou Rare Earth Products Exchange founded on August 8th last year is being decorated and will release its trade rules and regulation details in August.
Baotou Rare Earth Products Exchange was founded by 10 enterprises with RMB 10 million, and each has 10% stake in the company. The 10 enterprises include rare earth enterprises in Baotou and Gansu, Guangdong, Sichuan, Xiamen, and China Rare Earth, Minmetals Rare Earth and SOEs. Two rare earth enterprises were added recently, with registered capital of RMB 120 million.
The founders of the Baotou Rare Earth Products Exchange hope to consolidate the industry, stabilize prices and seeking more negotiating power over pricing. But trade rules, place and precise timing for trading have yet to be released. (Edited by SMM)