State Reserve Bureau Officially Began to Purchase 10000 Tons of Rare Earth

10000 tons of rare earth reserves in Ganzhou officially began on Sep. 16. Ganzhou Rare Earth Mining Co, Ltd. stated that the activity has already began as State Reserve Bureau (SRB) started to deliver rare earth, meanwhile it will be finished by Minmetals Rare Earth (000831 SZ), China Rare Earth Company, China Nonferro Metal Co, Ltd (000758.SZ), Baotou Steel Company (600111.SH), Guangsheng Rare Earth and Ganzhou Rare Earth Mining Co, Ltd..

These people said that the state reserves have been completed bidding in July 31, and the amount of national reserve has reached to 10000 tons, besides, the commercial reserves of these enterprises have increased by 3000 tons, and all will be arrived by the end of this year.  

Rare earth market has continued to be weak since the beginning of this year, the prices of rare earth minerals and rare earth products remain low, which has been changing in September. Data from Ganzhou Association of Rare Earth Industry shows that rare earth price has been improved in September. Otherwise, industry analysts said 2013 rare earths reserve unsold, has been delayed until now, in addition there is no specific results in controlling fault rare earth, rare earth market also need to see the market performance in October.

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