Shanghai Rare Earth Industry Expected to Double

Shanghai Rare Earth Industry Association was founded on May 28. Shanghai rare earth industry has been growing rapidly, with the industry output value increasing from RMB 2.52 billion at the end of the 10th Five-Year Plan period, to RMB 5.05 billion at the end of the 11th Five-Year Plan period.

Shanghai rare earth industry is improving its industry structure, developing into rare earth permanent magnetic material, luminescent materials, laser materials, hydrogen storage material, catalytic material, polishing material and biomedical material. High-technology and high value-added rare earth products are leading products.

Global rare earth demand by 2015 is expected to reach 210,000 mt, with domestic demand of 138,000 mt. Rare earth industry value in Shanghai will reach RMB 10 billion, up 98%.


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