November 21 news Ganzhou Rare Earth unmanned after exchange operators " join " , which makes the Baotou Rare Earth Exchange cautious in choosing the timing operation .

Reporters recently learned exclusively , Baotou Rare Earth Products Exchange will be officially put into operation before the end of November , trading patterns of "E Spot " ( electronic mall ) , auction and current spot three kinds , the first two trading patterns for rare earth products species is not limited current spot in the initial selection of praseodymium and neodymium two varieties.

"All the staff have been gradually moved into a new office area, trading systems have also been completed internal testing , the current exchange already has test operation conditions . " November 19 , Baotou Rare Earth Exchange insider told this reporter .

According to the sources , the Exchange since last August 8 listed since the Baotou Rare Earth and other 12 shareholders under the impetus of the Board of Directors held a number of occasions , the operating mechanism of the exchange , trading patterns, trading products and other aspects of in-depth discussion, and formed a consensus rules.

Everything is ready

After a year of preparation, the Baotou Rare Earth Exchange has everything is ready , rare earth physical trading trial operation has started.

The reporter learned from the Baotou Rare Earth High-tech Zone , at present, rare earth products Exchange decoration work , equipment installation work has been completed, a staff recruitment has been completed and started operation personnel training simulation platform .

In fact, according to the official statement , the decoration has been the rare exchanges fail one of the main operators .

In June, Deputy General Manager Zhang Rihui Baotou Steel Rare Earth had a similar statement: Rare Exchange is still decorated, will be held in August this year, "Fourth China Baotou Rare Earth Industry Forum" announced progress and the introduction of trading Rules .

However, the Baotou Rare Earth Exchange does not publish trading rules as originally planned , Baotou Steel Rare Earth reason given is general manager Zhang Exchange still decorated .

Baotou Rare Earth High-tech Zone stakeholders are given timetable : October , the mid to carry out marketing activities , invite the rare earth enterprises simulated trading contest held in late October for rare physical trading trial operation.

In fact , the plan was again dashed. But reporters informed of the latest , Baotou Rare Earth High-tech Zone in the rare earth Exchange recently held a seminar Financial Plaza , from Baotou , Beijing , Ningbo Xinfeng rare earth and other places more than 40 enterprises to participate in the promotion. At the launching conference , Baotou Steel Rare Earth International Trade , Deputy General Manager , General Manager Gu Ming dilute Exchange introduced the background of the establishment exchanges , institutional profiles and development goals.

Participate in promotion of the official said, on October 23 , all staff moved into the new office area , and trading system for internal testing, and simulation of the entire system to run , "the current exchange already has a pilot operating conditions . "

In addition, the popularity of rare earth products bulk Exchange electronic trading knowledge , which was November 5 began a period 5-10 days of simulated trading contest .

Baotou Steel Rare Earth Securities Department official told this reporter : "rare earth exchange is in the preparation phase , will soon be operated . "Participation promotion of a business people confirms the Baotou Rare Earth Exchange insiders say :" 11 can be fully operational before the end . "

Conditions advance

Baotou Rare exchange operator dragged the business people think , decoration and hardware issues are not the most important reason , the most important is the 12 member units have been unable to agree on the details of the transaction , no rules how to operate ?

Baotou Rare Earth Stock Exchange by the Baotou Rare Earth , the state material reserves regulating center 12 jointly funded the establishment of enterprises and institutions , exchanges registered capital of 120 million yuan , participating companies, including areas north and south of the backbone of rare earth rare earth enterprises , shareholders with same rights in order to ensure the fairness of the trading platform .

Gu Ming said in August , the exchange will dysprosium, terbium , europium and other rare earth as a variety of transactions , " the three is OK " , but when introduced to be based on market conditions but also because these varieties have Price undulating characteristics, and lanthanum and cerium year price changes is small.

More detailed classification is , europium, lanthanum and cerium are LREE is Baotou Rare Earth 's most abundant species, and dysprosium , terbium belong HREE .

" Baotou Rare Earth Exchange apparently prefer their own reserves of rare species is not abundant , from the south to get north transaction , but companies have to consider the South would be willing to trade all the way to the header , the delivery , the additional cost of business willing to assume . " an investment company executive said.

In addition, the heavy rare earth mining of only 1.2 million tons, dysprosium , terbium 2011 production was 50 tons, 83 tons , dysprosium , terbium oxide production was 742 tons , 190 tons , even if all together but also more than 1000 tons .

Some member worries about little trading volume , no one will even to trade , leading to exchange useless.

Currently, Ganzhou Rare Earth Exchange encountered such embarrassing questions . Owns the 80% of the heavy rare earth Ganzhou was November 11, 2011 established the first exchanges , mainly for rare earths , tungsten, cobalt , tin and other metals and their extended products provide cash and electronic trading markets , after the establishment of trading little.

Baotou Rare Earth Exchange will not repeat the mistakes of Ganzhou Rare Earth Exchange ? Aforementioned funded corporate executives , said: "Previously, the Baotou Rare Earth Exchange trading varieties are finalized produced from southern dysprosium, terbium , europium and other rare earth , rather than its proximity to the Bayan Obo rare earth mine light , some of the member units and do not agree. "

However , rare earth exchange insiders said that at present, 12 member units of the exchange operating mechanism , trading patterns, transaction types , etc. have formed a consensus . In accordance with the relevant provisions of the Baotou Rare Earth Rare Earth Products Exchange will carry out spot trading in commodities does not carry forward transactions , forward transactions in the commodities market management , warehouse transactions .

According to the parties involved in promotion , the current spot in the initial selection of the two species are praseodymium and neodymium , are light rare earth yield is much higher than dysprosium, terbium . Publicly available data show that in 2011 , metal praseodymium , neodymium neodymium metal production was 8,630 tons , 4,913 tons .

"In the running for some time, the Baotou Rare Earth Products Exchange also plans to introduce rare earth products price index , but the index is based on price or to inquiry -based estimates, has not been determined . "These Baotou Rare Earth Stock Exchange , sources said .


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November 21, 2013 Price of rare earth products

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China is the world's rare earth resources in most rich countries. Inner Mongolia is China's "rare earth region ." Particularly those in Baotou Bayan Obo iron, niobium , rare earth deposits in symbiosis , not only rare earth reserves in the world, and rare earth element content, variety, has an important industrial value.

It is understood that the vast majority of rare earth exports from Baotou, exports amounted to 3,950.8 tons ; exports in general trade exports manner , exports to the United States 2,173.6 tons , more than 50% of the total . According to the publication , in 2013 1-10 months, Inner Mongolia Autonomous Region exported 4,276 tons of rare earth , of which more than half of the United States .

According to the data show that: in 2013 January-October 4276 tons of rare earth exports Inner Mongolia Autonomous Region , China's rare earth exports over the same period accounted for 24.4% of the total . The average export price per tonne $ 10,400 , down 59.4 percent , continuing a downward trend .

China is a major exporter of rare earth , but in the high-end products , high-end technical applications is lagging behind in the international market of voice and pricing to be further strengthened ; technically short board has seriously hampered the development of China's rare earth industry , for developing self- IP application of rare earth technology is the development of China 's rare earth industry , to enhance their own right to speak the primary problem.


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Has been a year and a half Chinese Rare Earth International Litigation October 26 outgoing messages , allegedly WTO (WTO) dispute settlement mechanism to complete panel ruled that the interim report , supports the United States , Japan and the EU against Chinese rare earth export restrictions policy violation aspirations. Rare international litigation failure means China will be forced on China 's rare earth export quotas of existing policies , rare earth export tariff adjustments , China 's rare earth export controls may have to end .

Media reports said the dispute panel 's interim report on the rare earth (Interimreport) has been distributed to parties to the dispute , the final report may be 6-8 weeks after the formal public . Up to now, the Ministry of Commerce , Ministry of Industry and the China Association of rare earth management departments and industry organizations have not confirmed the news to the outside world .

However, " China Business" reporter learned that , in the face of international litigation unfavorable situation , management has considered more flexible and rational policies instead of across the board, dogged terminal control , such as stress the importance of market allocation of mandatory production plan ways to improve the role, through the financial transfer payment to compensate for the rare earth resources , from the source to abate illegal mining of rare earth resources , overcapacity of power.

Worries losing

March 2012 United States, Japan and the EU to the WTO has brought tripartite trade disputes claims that the Chinese for 17 kinds of rare earth and tungsten, molybdenum export quotas and export taxes imposed restrictive measures . After fruitless bilateral consultations , in September 2012 , set up by the WTO Director-General panel to adjudicate . Prior to the 2011 WTO had ruled China for bauxite, coke , magnesium and other 9 kinds of restrictions on exports of raw materials policy violates WTO rules .

"Once the Chinese really lost, rare earth industry may suffer from ' disaster ', Chinese rare earth export regime will be adjusted quotas and export tariffs will be subject to release under pressure , but the structure confusion, concentration is low , such as smuggling and trafficking phenomenon will rise. " October 31 , the investment adviser metallurgical industry researcher Weiqi Ning told reporters that , in the internal environment has not improved in the case , was forced to open the industry is bound to exacerbate difficulties.

Data show that from January to August this year , China's rare earth mining and smelting industry realized main business income of 45 billion yuan , down 14.9 percent , import and export volume of rare earth products $ 1.4 billion , down by 39.4% . January to August this year , the rare earth mining and smelting industry realized profits of only 3.2 billion yuan , down 62.1 percent .

Once the quota system liberalized, tariffs fall , rare earth export trade is bound to increase , which is partially dependent on the survival of rare earth companies that trade is good , in the framework of China 's rare earth industry and trade enterprises has been questioned , while relying on the existing the breeding of rare earth export quota system corruption are also concentrated in the trade sector , at the end of 2010 to 2011, a period of soaring prices of rare earth , rare earth export quota system rose to 50,000 yuan per ton from 500,000 yuan per ton , with the export quota system gradually inclined to producers , coupled with rare earth market slump , the current quota system basically nobody cares.

According to the Ministry of Industry and Raw Materials Division Office of Rare Jia Yinsong data provided by the country now has 1,594 rare earth companies issuing invoices . Theoretically, industry authorities and tax authorities could keep track of all rare earth production and circulation , thus take control of illegal rare earth industry chain , it can also eliminate some excess capacity .

But the reporter learned that the Chinese enterprises in the register of smelting separation is only 200 , that a large number of business enterprises in the invoices the business listings. This also means that there are a large number of rare earth invoices flowing non- manufacturing enterprises in the book possible.

From Guangdong Dongguan, a rare trader told reporters that they had customers from abroad at the "smell" to change the atmosphere, "Many have a long delay in considering the needs of customers orders, if the export quotas , they there will be many objects of inquiry , the price will certainly be reduced. "

Currently Chinese official did not disclose the progress of rare earth litigation , the dispute settlement procedures , the group will be in two weeks time another open meeting with the parties , review the aforementioned interim report , the panel report if China dissatisfied still have the right to the WTO Appellate Body of Appeal.

On October 26 at the " 2013 China Rare Earth Forum", the China Nonferrous Metals Industry Association vice president, China Rare Earth Industry Association vice president Wang Qin said that , "WTO litigation involving rare earth nearing the end , the abolition of exports of rare earths quota management will also be on the agenda after the end of the case , it is recommended first began to consider a lighter rare earths . "

Excess " ills "

Beginning in 1998 as the policies implemented in rare earth export quota management in the eyes of many people in the industry are considered a temporary arrangement , they believe that when the domestic production order specifications, environmental remediation is complete, it can be canceled.

It is understood that after nearly five years after integration , China's rare earth enterprises of the top ten companies , mineral production capacity has accounted for 81% of the country's total capacity , smelting separation capacity accounted for 61.5% .

But unfortunately, not enough to make the treatment results and export quota policy after 15 years in the implementation of the conditions have quit because of rare black chain is still popular , so that national annual mandatory production plans are not implemented , rare earth oversupply the situation has been difficult to change.

Wang Qin available data show that China's rare earth smelting and separation capacity of 40 million metric tons, global demand is 12 million tons, according to the static figures to count, less than 30% operating rate . In general, rare earth materials , permanent magnet alloy production capacity of 250,000 tons , production is only 80,000 tons ; hydrogen storage alloy production capacity 30,000 tons , production is only 12,500 tons ; NdFeB enterprises in the field of new materials with nearly 200 , the annual production reached 1,000 tons , only more than 20.

Previously these traders from engaging in Dongguan earth downstream industries, because the market is in the doldrums career change , he said the reporter , rare earth prices fell after 2011 , the original " hungry " downstream industries will soon be "eat & rdquo ; into a surplus . Both upstream and downstream of this excess , so that rare earth prices in the past year and a half are maintained at low levels .

Wang Qin believes that rare earth price volatility is an important factor in the breeding of black chain repeatedly , she said, the illegal exploitation of rare earth mine is 4 million tons, smelting separation production of super- index or no index at 50,000 tons so, the amount of smuggling of rare earth in about 20,000 tons , seriously interfere with the normal production and distribution of rare earth order. And China Rare Earth Industry Association, Ma Rongzhang in August this year that the South separated ion ore smelting enterprises to obtain more than 70% of unknown origin .

Source control

In the past five years, rare earth consolidation , Minmetals , Chinalco , the color of mining, research and other Chinese steel strengthened with Shandong, Hunan and other places , and cooperation between enterprises at the provincial level level, Inner Mongolia, Jiangxi, Guangdong, Fujian, Sichuan and other regions and enterprises , and increased merger and reorganization efforts, and achieved initial results .

In the event, as it involves the central and local , regional coordination with regional interests , rare earth resources has become the focus of the parties to compete , but also become a lot of local governments and tenant companies "negotiate" chips , and this delicate game for illegal mining, ultra- planned production of repeated planted the "seed" , overcapacity is difficult to resolve is also reasonable.

Jia Yinsong October 26 Speaking of deep-seated problems of rare earth industry , pointed out that part of the enterprise of illegal mining, in order to select iron , recycling of rare earth in the name of election " in some areas is not responsible for monitoring the implementation of the super- exploitation of indicators , taking acquiescence attitude. "

Wang Qin said that as China's rare earth resources distribution characteristics were located in poor and remote areas , economic development is relatively backward, overcapacity is the local government hopes to develop rare earth resources development and utilization of the local economy as a consequence .

" In developing countries, the development of rare earth resources and industrial development policy, should pay attention to the rational distribution area , central and local governments to properly handle the current and long-term relationship , to explore the establishment of mechanisms for the protection of rare earth resources and supporting the interests of the compensation mechanism , the use of transfer payments , etc. on resource protection area involved and corporate compensation. " Wang Qin said.


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