Baotou rare Earth products Exchange, the only exchange in China to trade rare earth products, said on the 8th that for the whole of 2019, the trading volume of the exchange was 208.5605 billion yuan (RMB, the same below), a record high, the Baotou rare Earth products Exchange, the only exchange in China, said on the 8th.
It was disclosed that trading volume on the exchange rose 102.17 per cent from 2018 to 3386.84 tonnes, up 405.26 per cent from a year earlier.
Wu Xueliang, assistant general manager of the Baotou rare Earth products Exchange, said that the exchange, which officially operated on March 28, 2014, has cooperated with Bank of China, Bank of Communications, Ping an Bank, and Bohai Bank to realize the third-party deposit of customer funds in accordance with state regulations, ensuring that day transactions and settlement on the same day, and comprehensively ensuring the safety and reliability of customer funds, strict supervision, and simple operation.
In terms of warehousing and logistics, Baotou rare Earth products Exchange in 2019 signed two designated settlement warehouses in Shanghai and Ningbo, and set up three settlement warehouses in northern rare earths and rare earths in China. At present, the warehouse logistics of the exchange has basically covered the main places of production and application of rare earths.
Officials say the exchange plays a special role in coordinating the circulation of upstream and downstream products and guiding the healthy development of the industry, shouldering the important mission of creating a unified and centralized trading high-end market for China's rare earths and helping the country to fight for the international voice of rare earths.
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