Home / Metal News / Minor Metals / China Minmetals buys antimony, rare earth stocks of Fanya exchange for 780 million yuan
China Minmetals buys antimony, rare earth stocks of Fanya exchange for 780 million yuan
Sep 2,2019 13:58CST
industry news
Source:SMM
The company paid 780 million yuan for antimony, rare-earth oxides inventories formerly held by the Fanya Metal Exchange

SHANGHAI, Sep 2 (SMM) – The rare earths unit of state-owned China Minmetals on Sunday September 1 paid about 780 million yuan for antimony, dysprosium and terbium oxides inventories formerly held by the now-defunct Fanya Metal Exchange in online auctions.

China Minmetals Rare Earth, as the sole bidder, bought three lots of the minor metal, rare-earth oxides for starting prices set by the Kunming Intermediate People’s Court, according to the e-commerce site that hosted the 24-hour auctions.

The prices are far below current market value.

The auction of about 18,661 mt of antimony was purchased at 29,300 yuan/mt, while the company secured the lots of 148.75 mt of dysprosium oxide at 1.49 million yuan/mt and 4.05 mt of terbium oxide at 3.16 million yuan/mt.

SMM assessments showed that the spot price of 1# antimony stood at 36,500 yuan/mt as of Monday September 2, with that for dysprosium oxide at 1.91 million yuan/mt and that for terbium oxide 3.925 million yuan/mt.

Rare earth
Minor metal

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news

Most Read
data analysis
data analysis
data analysis
data analysis
data analysis