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Announcement on the 12th special bidding of rare earths in North China
Jul 22,2021 08:54CST
Translation
The content below was translated by Tencent automatically for reference.

Baotou rare Earth products Exchange issued a notice on the 12th special bidding of rare earths in northern China, the contents of which are as follows:

Baotou rare Earth products Exchange Co., Ltd. (hereinafter referred to as "rare Earth Exchange") plans to sell the metal praseodymium and neodymium applied by Northern rare Earth High-tech Co., Ltd. (hereinafter referred to as "Northern rare Earth") for the 12th time. The relevant information and contents are as follows:

I. transaction qualification

In the rare Exchange has opened accounts, banks have signed a contract of dealers, the North rare earth review qualified magnetic materials enterprises can participate. Before the start of the bidding business, when the number of approved dealers is less than three, the opening of the bidding business shall be suspended on the same day. After the opening of the bidding business, other traders who have passed the examination and approval can still participate in the transaction.

Before bidding trading, traders should fully understand bidding trading and the relevant provisions of the measures for the Administration of the listed Market of Baotou rare Earth products Exchange (for trial implementation), and be able to bear their own risks and responsibilities.

II. Basic information of commodities

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Note: the price increase is 0.5 yuan / kg, and the maximum price increase is 2 yuan / kg.

III. Trading time

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IV. Transaction process

(1) the price of this bidding transaction includes tax.

(2) the bidding transaction shall be conducted in the form of margin, and the performance bond shall be 5% of the starting price. If the transaction is not completed, the performance bond will be released in real time.

(3) after the start of the transaction, the transaction shall be concluded in accordance with the principle of "giving priority to high price, followed by early time", and continuous quotations are not allowed by the same trader.

(4) the bidding enters the 180-second countdown period. When the latest quotation appears, the bidding time will be postponed by 180 seconds on the basis of the latest quotation confirmation time, until the bidding ends when there is no new quotation or when the early warning price is reached.

(5) those who have completed a bidding transaction need to make up the remaining payment within five working days, and the overdue period shall be regarded as breach of contract.

(6) after the conclusion of the bidding transaction, the northern rare earths shall deal with the signing of the contract, picking up the goods, invoicing and other matters with the trader.

(7) the buyer and seller who finally conclude the transaction shall pay the corresponding handling fee in accordance with the announcement of the sparse exchange. The seller's handling fee standard is: the total transaction payment × 0.1%; the buyer's handling fee standard is: the total transaction payment × 0.1%. The trader abandons the transaction for its own reasons and the service fee is not refundable.

V. other

Details of the outstanding matters can be found in the measures for the Administration of the listing and Trading Market of Baotou rare Earth products Exchange (for trial implementation) and the relevant provisions on the official website of the rare Earth Exchange.

Rare earths in the north
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