SHANGHAI, Nov. 25 (SMM) –
SRB Expected to Stockpile Rare Earth in Late November
Expectations are running high among market players that the State Reserve Bureau (SRB) will stockpile rare earth as soon as the end of November.
Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-Tech Co., Chalco Rare Earth Co., Guangdong Rising Nonferrous Metals Group Co., Ganzhou Rare Earth Group Co. and China Minmetals Rare Earth Co. – qualified bidders – have been purchasing rare earth at above market price since October, a similar phenomenon seen before the SRB stockpiled in years past.
Baotou Rare Earth Products Exchange Expected to Enter Operation in Late November
The Baotou Rare Earth Products Exchange is expected to enter operation before the end of November, a source from the exchange confirmed.
The exchange is still under decoration, said Zhang Zhong, General Manager of Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-Tech Co., citing it the major reason behind the operation delay.
Seven Companies to Establish Rare Earth Industry Clusters in Heyuan, Guangdong
Seven Chinese rare earth giants including China Mining United Investment Co. recently signed an agreement with the government of Heyuan, Guangdong, to establish seven rare earth industry projects in the city with a planned investment of over 10 billion yuan.
US Accounts for Over Half of Inner Mongolia’s Rare Earth Exports January-October
Inner Mongolia exported 4,276 tonnes of rare earth throughout the first ten months of this year, over half of which went to the US, the Hohhot Customs office announced November 19.
Laos Revokes Production Licenses of Four Chinese Rare Earth Processing Plants
The Laos government decided to revoke production licenses of four Chinese rare earth processing plants out of environmental protection considerations.