SHANGHAI, Mar. 19 (SMM) – SMM selected five major reports on rare earth industry during the past week as detailed below:
Where Is Chinese Rare Earth Industry Heading for?
China’s rare earth industry presented no clear developing trends, with prices experiencing surges and plunges and pollution issues imminent. Besides, rare earth market has also been distressed by trade disputes. Last year, rare earth industry failed to turn around, and market continued to see a glut. In this context, market paid huge attention to the developing trends of Chinese rare earth market.
JCC Rare Earth to Lead Consolidation in Sichuan’s Rare Earth Sector
Wang Hailin, head of Sichuan’s Industry & Information Technology Department, said at the NPC and CPPCC sessions that Sichuan JCC Rare Earth Metals Co. might be the leader of consolidation of Sichuan’s rare earth industry, as other enterprises in the province were of smaller scale and were not capable of acquiring their peers.
China’s Share in Rare Earth Market Down Markedly
Report from Germany showed China’s share in rare earth market has fallen to 92.1% in 2013 from nearly 98% four years ago, while US and Russia claimed 4.3% and 2.3% of market share.
Baotou Steel Rare-Earth Reports Higher Margin
Baotou Steel Rare Earth Hi-Tech Co. said it realized 8.472 billion yuan in operating revenue last year, down 8.33%. However, net profit distributable to shareholders of the listed company increased 4.22% to 1.574 billion yuan, due mainly rising sales for rare earth used as raw materials and function material. The company expects to create 6.4 billion yuan in sales in 2014, with operating cost expected at 4.6 billion yuan.
Baotou Steel Rare Earth Push forward Establishment of China Northern Rare Earth Group
A special group has formed at Baotou Steel Rare Earth with an aim of pushing forward establishment of China Northern Rare Earth Group. Overall planning and schedules about the consolidation will be developed soon.