America's largest rare earth miner MolycorpInc company , due to capacity less than expected sales decline loss widened , operators in trouble, since since October 15 , stock prices plummeted.

October 15 , MolycorpInc announced cash shortages due to the company , plans to sell $ 200 million worth of shares to raise funds to maintain operations , announced the news direct result of the company's stock price plummeted. According to Reporters statistics, October 14 , the company's closing price of 7.1 U.S. dollars / share, Oct. 18 , to close at $ 5.36 / share, the cumulative decline to 25%.

Public information , MolycorpInc was the world 's largest rare earth production enterprises, because of cost and environmental issues early in this century has been discontinued . 2007 due to rare earth prices, part of the company to resume production ; past two years, stimulated by the rare-earth prices have soared to begin large-scale increase production capacity , the end of 2012 production capacity of approximately 19,000 tons .

MolycorpInc the U.S. Securities and Exchange Commission said in a report , because California Mountain Pass (MountainPass) rare earth mine production failed to meet expectations within the planned time , resulting in the company's rare earth production was lower than expected , which the company in the first three quarters of revenue and cash flow caused damage .

It is understood , MolycorpInc its Mountain Pass rare earth mine in California is second only to our Baotou Bayan Obo rare earth mine in the world's second largest mine . The mine ore reserves of 50 million tons to maintain rare earth an average grade of up to 8 % to 9% , with a total resource of 4.3 million tons of rare earth oxides . In addition , MolycorpInc financial information, in 2012 the company a net loss of $ 360 million , net profit for the third quarter 2013 loss of $ 71 million .

In this regard , the rare earth industry analyst Du Shuai Bing that , MolycorpInc addition to its sales decline , but also in the impact of domestic rare earth distress of the company one of the reasons .

It is understood that , in fact , due to cost advantages, China Rare Earth [ -0.82 % ] corporate Despite the sharp drop in performance , but the overseas export volume is still growing .

Hohhot Customs released data show that three quarters of 2013, exports of rare earth 3850.9 tons Inner Mongolia Autonomous Region , a 62% increase over last year , of which 50% are exported to the United States .

Orient Securities analyst Zhang Xinping is expected , MolycorpInc rare earth mining operations or unsustainable. Its said that different from the past , MolycorpInc latest mid-year report does not update the company 's production capacity of 40,000 tons of rare earth production time , it just means that the price will depend on the specific needs and conditions, return on capital expenditure and final decisions , MolycorpInc on rare earth business the outlook is expected to be reduced.

Zhang Xinping also noted that the current surplus of light rare earth upstream , downstream demand and other factors sluggish rebound in the price of rare earth , rare earth business long if MolycorpInc in a loss position , the business or unsustainable.


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It is learned that , at present, the Baotou Rare Earth Products Exchange has been completed decoration and equipment installation work , a staff recruitment is also ready and start simulation platform operating personnel training business . Exchange recently launched marketing efforts , and invited the relevant rare earth enterprises to attend the simulated trading contest . The platform will be held in late October, rare earth physical trading trial operation.

It is understood , of rare earth products Exchange was founded in August 2012 by the Baotou Rare Earth ( 600,111 ) , the State Reserve material adjustment center , Inner Mongolia tech holding the steel trade 11 companies formed a joint venture . The exchange aims to build the first domestic rare earth industry, the electronic trading platform , fundamental break from the long form of price competition chaos rare earth enterprises , laying Baotou rare earth industry in the country and world dominance .


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As a high-end rare earth permanent magnet materials , NdFeB product quality testing problems have long plagued the rare earth industry . To solve this problem , Beijing collar state apparatus to develop new detection equipment to solve the problem.

Application of this new technology led state , not only in appearance defect detection to achieve a technological breakthrough, but also the size of the workpiece high standards of data detection accuracy up to 10μm or less, even more importantly, this technology to achieve the thickness of the workpiece within the effective range of the rapid test . More three-dimensional integrated comprehensive testing , which is in the rare earth industry is also a breakthrough.

Although it is rare earth production and testing equipment updates , but companies take the high road approach is worth the industry reference. China's rare earth resources development and utilization history for over 50 years , has a resource reserves, production , sales and exports of the world " four first ." Although China's rare earth ore mining technology can be said to be first class, separation technology is first class , but the terminal application products, but almost all of the core technology rests in the hands of foreigners .

China's production of rare earth products are mainly concentrated in the permanent magnetic materials, luminescent materials , hydrogen storage materials and polishing powder in the low-end products , the domestic use of high-end products are mostly imported. This creates a great contrast . For example, a dollar of rare earth materials , domestic enterprises after roughing up selling 10 yuan , 20 yuan , to the U.S. and European companies to make products , our country will spend 1,000 yuan to buy it back.

This situation must be changed . Of course , to do this, we must quickly adjust the structure , transfer mode, promote industrial upgrading , development and production of high value-added , high-margin new functional materials . In recent years, there have been foreign rare earth permanent magnet alternative technologies , rare earth reduction technologies , reuse of rare earth polishing powder polishing process technology and cerium oxide polishing powder alternative processes .

In a crisis , when the rare earth industry , take the high road is the rare earth industry in the development of ballast stone. China has a complete industrial system , chemical, automotive , lighting and other industries need to use rare earth new materials , if you only rely on foreign imports , will make the material cost is higher, is not conducive to the development of these industries . In China, if an enterprise can produce such products can not only improve the competitiveness of enterprises , can increase product added value.

In other words, lower prices of rare earth enterprises sell their products , not as focused on the development of new technologies , on the rare earth deep processing , so that their products abroad sell a good price . As a high-end rare earth permanent magnet materials , NdFeB product quality testing problems have long plagued the rare earth industry . To solve this problem , Beijing collar state apparatus to develop new detection equipment to solve the problem.

Application of this new technology led state , not only in appearance defect detection to achieve a technological breakthrough, but also the size of the workpiece high standards of data detection accuracy up to 10μm or less, even more importantly, this technology to achieve the thickness of the workpiece within the effective range of the rapid test . More three-dimensional integrated comprehensive testing , which is in the rare earth industry is also a breakthrough.

Although it is rare earth production and testing equipment updates , but companies take the high road approach is worth the industry reference. China's rare earth resources development and utilization history for over 50 years , has a resource reserves, production , sales and exports of the world " four first ." Although China's rare earth ore mining technology can be said to be first class, separation technology is first class , but the terminal application products, but almost all of the core technology rests in the hands of foreigners .

China's production of rare earth products are mainly concentrated in the permanent magnetic materials, luminescent materials , hydrogen storage materials and polishing powder in the low-end products , the domestic use of high-end products are mostly imported. This creates a great contrast . For example, a dollar of rare earth materials , domestic enterprises after roughing up selling 10 yuan , 20 yuan , to the U.S. and European companies to make products , our country will spend 1,000 yuan to buy it back.

This situation must be changed . Of course , to do this, we must quickly adjust the structure , transfer mode, promote industrial upgrading , development and production of high value-added , high-margin new functional materials . In recent years, there have been foreign rare earth permanent magnet alternative technologies , rare earth reduction technologies , reuse of rare earth polishing powder polishing process technology and cerium oxide polishing powder alternative processes .

In a crisis , when the rare earth industry , take the high road is the rare earth industry in the development of ballast stone. China has a complete industrial system , chemical, automotive , lighting and other industries need to use rare earth new materials , if you only rely on foreign imports , will make the material cost is higher, is not conducive to the development of these industries . In China, if an enterprise can produce such products can not only improve the competitiveness of enterprises , can increase product added value.

In other words, lower prices of rare earth enterprises sell their products , not as focused on the development of new technologies , on the rare earth deep processing , so that their products abroad sell a good price .


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It showed last week ( 10.13-10.19 days ) rare earth market transactions deserted, most offer steady LREE and HREE dysprosium the 17th offer slightly lower 2.5% ; light rare earth neodymium oxide, praseodymium slightly down 0.4% on the 18th .

Analysts said that as the purchasing and storage policy has not yet been out , some suppliers continue to reduce offer, but turnover is still deserted. And on earth when purchasing and storage formally introduced , yet no definite news .

Related brokerage earth still optimistic outlook , GF Securities research reported on the 13th , "rare earth Shouchu final size may greatly exceed market expectations, and is expected to integrate a large group will be officially launched in the near future , in addition to rare earths smuggling and also has entered a" mutual investigation "stage, the supply side will show substantial tightening , or rare earth prices will stimulate a new round of increases. "


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This week zinc, lead, nickel performed better, respectively, 0.8% , 0.7 % and 0.4 % gain in the top three, week average price reached 15,092 yuan / ton, 14,120 yuan / ton, 97,490 yuan / ton. Poor performance of gold and silver , were down 2% , 2.7% , weekly average price of 255 yuan / gram, 4,305 yuan / kg .

US impasse in the negotiations between the two parties moderated , market confidence pick up, gold rebounded 3.2% , but the performance of the Fund is calm , the rally is limited. Instead, leave -taking performance of the market , there is no apparent willingness to break up , especially copper and zinc is most apparent

Today, the spot research shows that copper flat plate finishing, weak trend , eager to hold stocks rallies for cash , the market is now a large number of copper emission, supply pressure surge in premium rapid narrowing all the way , especially good copper goods and more inexpensive , brokers favor Low supply, a slight increase in the downstream receiving goods weekends , mainly deal with the middlemen .

Continuing weakness in this rare earth oxides , due to lower demand for light, less some manufacturers offer slightly lower , but the turnover is still poor , rare earth materials temporarily depressed market based.

Sector level . Analysts said Indonesia next year may prohibit export of nickel ore , coupled with production factors , or to boost nickel prices rose 20 %, or 30% , from the multi-year low . Indonesia said it planned from January 1, 2014 banned the export of unprocessed ore .

Nickel is the worst year of basic metals. LME three-month nickel have declined since January, about 20% to four-year low , suppressed by excess supply .


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Recently, the Inner Mongolia Baotou municipal government issued "on further accelerate the development of rare earth industry, a number of opinions " , to further clarify the Baotou Rare Earth Industry Development 's overall direction, development objectives, development priorities, with special emphasis on brand building.

In recent years, Baotou, Rare Earth High-tech Zone two Quality Supervision Bureau of the quality of work as the changing way of speeding up economic development inherent requirement to focus on brand building and application of rare earth industry to promote the development of products , optimize the configuration elements , rare earth resources to promote changes in economic advantages , to create first-class innovative features rare earth high-tech zones . 2011 AQSIQ issued "to carry out " national brands to create demonstration areas "building pilot guidance" , Baotou municipal government , rare earth tech Zone Party Working Committee , the CMC attach great importance , in the autonomous region , Baotou City , rare Earth high-tech Zone three Quality Supervision Bureau under the guidance of rapid response , and actively guide the Baotou Rare Earth high-tech Zone to carry out national brands demonstration area to create work . After a year and a half of preparation , summary, acceptance , rare earth high-tech zone won the " National Rare Earth New Material well-known brands to create demonstration areas ."

Rare Earth High-tech Zone quality work has initially formed a government responsibility , coordination of various departments , the majority of enterprises to implement the main responsibility for the whole society to participate in massive mechanism . To the quality of the joint meeting as a platform, the quality of the work of various departments to seriously implement the responsibility objectives , the majority of enterprises to actively carry out technological innovation and quality - level activities , efforts to form a rare earth high-tech zones , " product quality, engineering quality , environmental quality , quality of service ," four in-one , the overall advancement of the quality of the work of a new pattern.

Baotou, Rare Earth High-tech Zone two brands of Quality Supervision Bureau of rare earth products to further increase efforts to nurture , encourage enterprises to a boutique, brand , expanding economies of scale and enhance the competitiveness of enterprises . Accordance with the " upgrade prominent group , grow a group , reserve a number of development " goals , to develop rare earth catalog and corporate brand development helping to guide the development plan . In the organization and implementation of director ( manager ) knowledge of quality management training project to promote total quality management, promotion of " excellent performance management model " to promote the standardization strategy based on the work , the formation of expert advisory group in-depth focus on the quality of the brand development companies a for one , a business a policy of aid , focusing on quality improvement , technology research , intelligence information , implementing standards certification, laws, regulations , policies, conditions and other aspects of guidance services.

Meanwhile, the Baotou Rare Earth High-tech Zone Party Working Committee , the CMC to further enhance the quality of government incentive system , and optimize the quality of the work environment , the quality of macroeconomic policy management populate new vitality. Recently, the High-tech Zone Branch of Quality Supervision promote CMC promulgated the " Quality Management Rare Earth High-tech Zone and brand demonstration incentives" and other policies, from the Awards , reporting conditions , performance evaluation, and other aspects of the award credits to make specific provisions to improve brand construction-related funds to support policies to strengthen Baotou rare Earth high-tech Zone Corporation and the union of the full use Baotou, rare Earth high-tech Zone policy advantages, environmental advantages and rare earth research , industry, technology, and talent gathering advantages to large-scale application of rare earth enterprises as a leader, to the main business and application of rare earth enterprises as the core, specialization and cooperation support, product extensions for the direction , continue to strengthen the cultivation of rare earth products and brand development , to promote the Baotou rare Earth industry healthy and rapid development .


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Recently, there have been reports of rare earth country ten billion on purchasing and storage plan in October , but the Chinese Society of Rare Earths expert Xu Guangyao , deputy head , said: "It was carried out in June and July will Shouchu work, but have not been finalized, purchasing and storage which varieties to what price , what companies involved did not finalized and is still sectoral consultation with the relevant units . However, purchasing and storage of relevant work already underway. "

Xu Guangyao said: "The ability to work in October to carry out purchasing and storage , but also the progress of the work . "But there are rare earth companies who said that no matter what time purchasing and storage , the beneficiaries are always big business.

Serious oversupply Shouchu boost confidence

Rare earth industry generally believe that the current oversupply situation rare earth industry is more serious , rare earth enterprises purchasing and storage to let some gain , boost market confidence.

Xu Guangyao said that at present a large product inventory of rare earth , with an estimated yield of stocks equivalent to one year ( planned volume ) at 10 million tons. Ministry of Industry and Information Technology Vice Minister Su Bo , held in the first half of this year China Rare Earth Industry Association Conference, said that in 2012 planned 93,800 tons of rare earth minerals ( rare earth oxides ) , the actual production of 76,000 tons ; rare earth smelting and separation product plans 90,400 tons , the actual production of 82,000 tons . Does not include illegal production.

China is a big country of rare earth resources , accounting for 23 percent of the world total , but it took more than 90% of the world market supply . The current global production capacity of rare earth minerals , including private , including about 200,000 -30 million tons, while the global demand for rare earths is more than ten million tons, much higher than the supply demand .

Statistics show that the rare earth permanent magnet plate 32 listed companies in the first half of this year, the total profit of 2.556 billion yuan , with 2012 profit of 4.846 billion yuan over the same period dropped 47 percent compared ; while adding to the inventory of excess capacity slow , resulting in an accounts receivable listed companies rose three percent.

32 listed companies in the rare earth sector , 5 losses , 27 remain profitable , but the general decline in earnings . Data show that 32 first-half revenues of 123.55 billion yuan , an increase of only 1.4% ; net profit of 2.556 billion yuan , down 47%.

China Nonferrous Metals Association, Chen complete training that more serious overcapacity rare , less than 40% capacity utilization . China Rare Earth Association, Gan Yong said that the current production capacity of rare earth permanent magnet materials 300,000 tons, annual output of 80,000 tons , less than 30% capacity utilization .

There are rare earth companies said that the surplus , to two aspects , a number of large enterprises funded, is gradually build the industrial chain , their impact is not large surplus ; while some small businesses and private mines , the situation is bad, six- month shutdown has started , these companies have been very cautious , and the impact of excess is acceptable . More is planned excess overcapacity .

Improve the purchasing and storage mechanisms

The rare earth enterprises said that rare earth market is not good , the state will pay the big companies will make money, not lose money , and the purchasing and storage price is higher than the market price.

Some analysts introduced last year, purchasing and storage , the state selected several rare earth enterprises , invite several companies on the amount and price of rare earth acquisition bid after the bidding companies to collect rare and self- preservation, then the way the government through cash back on purchasing and storage products for payment. Since the implementation of reserve side in the enterprise , leading to purchasing and storage enterprises to participate in the process of purchasing and storage revenue is very impressive.

Baotou Steel Rare Earth in the first quarter attributable to shareholders of listed companies net profit of only $ 245 million in the second quarter , but the downturn in the industry counterattack was 805 million yuan , respectively, year on year and up 122% qoq and 229% . Some analysts believe that this is the second quarter, the company recognized revenue last year, state purchasing and storage of rare earth .

Research institutions , said last year the total purchase price of state purchasing and storage of up to 60 billion yuan. As profitable , some companies and investment companies will move from the " brains ."

The business people said: "There have been companies done this , the most direct way is , A company is a state-owned purchasing and storage qualification , B plant is acquired businesses , you can buy some from outside the purchasing and storage products with low prices , as close A store selling companies , A company then sold to the state . "

"For small businesses, it is very dangerous , over-reliance on purchasing and storage and large enterprises, large enterprises to stop once acquired , will be difficult to separate the face of small business market. " Another rare corporate executives said.

In addition, some investment companies holding the investors' funds to participate in purchasing and storage enterprises to participate in purchasing and storage enterprises on the market with the money to buy cheap products can be purchasing and storage , because storage price higher than the market price of rare earth , involved in purchasing and storage enterprises will make a small fortune , and investment companies will get good returns. It is understood that investment companies do this kind of business , investment return rate of 10 % or more.

Baotou a responsible person that compared with other countries , China's rare earth Shouchu work has only just started, purchasing and storage mechanisms , price, type, quantity , and many other problems to be solved , and improve purchasing and storage mechanism is very important, can not put Shouchu become a big business making money .


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Today, rare earth market downturn continued decline , the market price of basic shock to go down, more varieties of the price decline has occurred . Some suppliers industry diminished confidence in the market outlook , consider purchasing and storage so far undetermined , short-term market prices are still likely to down the main shock .

Currently praseodymium neodymium market, according to Baotou manufacturers reflect , praseodymium neodymium metal band ticket price 43-44 yuan / ton, with no ticket 36.5-37 yuan / ton. Neodymium oxide, praseodymium market , Ganzhou region with a ticket vendors offer 335,000 yuan / ton, slightly lower than last week's 10,000 yuan / ton.

Dysprosium products market , the current price of dysprosium oxide temporary flat with last week , with a vote on the market offer in the 180-190 yuan / ton, with no ticket prices 155-160 yuan. / Ton. Dysprosium iron market with a ticket price of 190-195 yuan / ton, with no votes 160-165 yuan / ton. There Ganzhou suppliers dysprosium prices still reflect the downstream channel , weak demand , prices continue to fall probability.

Lanthanum, cerium market , we understand that there Baotou suppliers reflect the recent price temporarily remain stable , 3N lanthanum oxide with a ticket price of 27,000 yuan / ton. Ganzhou regions, and some suppliers 3N cerium oxide with a ticket offer has been reduced to 24,000 yuan / ton, while according to other suppliers reflect , 3N cerium oxide with a ticket price of 26,000 yuan / ton.

Today, there are some suppliers cut erbium oxide , neodymium oxide , yttrium oxide with ticket prices , the current market erbium oxide with votes in 34.5-35.5 yuan / ton , down in the range of $ 5,000 / ton. Neodymium oxide market with ticket prices down to 33-34 yuan / ton , compared with last week, down 10,000 yuan / ton. Yttria market prices low volatility , the current mainstream price 7-7.5 yuan / ton or so. In addition, Ganzhou traders reflect praseodymium oxide also has lowered the price , now the Foreign suppliers offer down one yuan / ton.


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Environmental Protection Department of the Ministry of Environmental Protection issued 18 October 2013 on the construction project intends to make approval of environmental impact assessment documents of public opinion , Ganzhou Rare Earth Mining integration project ( a ) through an EIA , Jiangxi Province Development and Reform Commission agreed to carry out preparatory work of the project , publicity for the 18 October 2013 24 October 2013 .

According to the Ministry of Environmental Protection documents show that integration project ( a ) for the integration of Ganzhou City Long South, Dingnan counties rare earth mine , after integration of 14 rare earth mine , only mine where 12 rare earth mine , the East River rare earth ore , temporary ponds and rare earth mine Pro foot hole pond basin rare earth ore mined ore is not . Using in situ leaching mining process, the production scale of 24,325 tons / year of rare earth ammonium bicarbonate ( equivalent to 92% of the mixed rare earth oxide 6950 t / year ) . The total investment of 1.366 billion yuan , of which 523.09 million yuan investment in environmental protection , accounting for 38.29% of total project investment .


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October 21 rare earth products price quotes

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