June 10 spot price of SMM rare earths

China’s rare earth mining and smelting/separation quotas stood at 168,000 mt and 162,000 mt respectively in 2021, according to the Ministry of Natural Resources (MNR) and the Ministry of Industry and Information Technology (MIIT).

Baosteel Desheng, a subsidiary of China Baowu Iron and Steel Group, invested 13.6 billion yuan to build a fine stainless steel green industry base in 2018, and the project will be fully put into operation next year.

The profits of the mining and raw material manufacturing industry increased by 1.84-fold and 39.6% year-on-year, respectively, in August, which were well above the average level of industries above designated size, said Zhu Hong, a senior statistician at the Department of Industry of the National Bureau of Statistics (NBS).

Yunnan Provincial Development and Reform Commission announced on September 11 that the average monthly output of local industrial silicon companies should not exceed 10% of the August output from September to December.

In the first fiscal quarter ending in June 2021, Indian crude steel production increased by 61% year-on-year to 27.8 million tons, compared with 17.26 million tons in the same period last year.

COVID-19 pandemic once again swept the world recently. The new cases surged in US, Europe, and south-east Asia due to the spread of Delta variant. Pandemic was also spreading in China. On August 1, 31 province (including autonomous regions and municipalities) and the Xinjiang Production and Construction Corps reported 98 new confirmed cases, including 43 imported cases and 55 local cases.

SMM believes that the current increment of the tungsten ore mining quotas is the highest over the past three years.

In order to achieve a sustainable future, mining giant BHP urges for greater transparency in the pricing mechanisms in the copper market.

China’s rare earth exports inched up nearly 1% from a month earlier to 2,892.8 mt in June, according to data from the country’s General Administration of Customs released on Tuesday.

According to a notice on the company's website released on Thursday June 11, the Baotou-based rare earths supplier will sell praseodymium-neodymium oxide at 310,000 yuan/mt, tax-included and ex-factory, for the month of June, up about 8% from the previous month.