Rare Earth's Q1 Demands Rises in China Rare Earth
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- Category: Rare Earth News
- Published on Sunday, 28 April 2013 09:53
- Written by Yuri
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Global demand for rare earth metals from China climbed in the first quarter due to falling prices despite domestic producers and processors reporting losses.
Statistics from the General Administration of Customs suggest that rare earth exports rose 55 percent in March from February to 1,718 metric tons.
Export volume in the first three months grew 47.3 percent to 3,916 tons. But in the same period, export value dropped 71 percent to $91.9 million.
Deputy Secretary-General of the China Rare Earths Industry Association Chen Zhanheng said the growth in exports volume stems from a price decline in 2011, stimulating overseas buyers who had used up their reserves. Chen said there are no signs of a quick rebound from falling demand at home and abroad, but he believes the market will grow as production is being regulated and prices continue to fall.
Chen Jiazuo, an analyst from the China Nonferrous Metals Information Network, said it only took two years for the industry to deteriorate from its peak, yet current prices are still higher than the lowest point in the past 10 years.
Only half of the export quota in 2012 was used due to the price surge in 2011, which deterred buyers. The value of exports in 2012 fell 66.1 percent year-on-year to $906 million.
Rare earths, which comprise 17 metallic elements, are used in many technological products, including missile systems.
China supplies more than 90 percent of the world's rare earths, and has nearly one-third of the known global reserves.
In the first quarter, Baotou Steel Rare-Earth (Group) Hi-Tech, the country's largest rare earth producer, reported revenue of 2.29 billion yuan ($366 million), down 35.7 percent from a year ago. Its net profit fell 79.7 percent to 245 million yuan. Its first quarter report said prices for its main products have dropped more than 50 percent.
Last year, the firm saw a sharp drop in net profit and revenue due to falling demand and a slowing economy.
Net profit dropped 56 percent to 1.51 billion yuan year-on-year, while revenue fell 19 percent to 9.24 billion yuan as a result of low demand in the rare earth market and a price drop.
Baotou Steel resumed production on Feb 23 after a four-month halt due to the price slump. Another producer, Rising Nonferrous Metals Co Ltd, saw a first quarter loss of 29 million yuan due to a drop in operating revenue and gross profit.
Last month, China Minmetals Rare Earth Co Ltd announced a 47 percent drop in revenue, from 7.6 billion yuan in 2011, with net profit falling 74 percent in 2011.
Many downstream enterprises are suffering due to the price surge in 2011, with some closing their operations, Chen said. Rising prices have forced many manufacturers to switch to other materials or seek new markets for rare earths, he said.
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Medium-to-Heavy Rare Earth Supply Tightens
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- Category: Rare Earth News
- Published on Sunday, 28 April 2013 09:49
- Written by Yuri
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The Association of China Rare Earth Industry held its second session of the First Member and Director Meeting on April 21st, 2013 in Shanghai, with the Ministry of Industry and Information Technology Vice President Su Bo attending the meeting and speaking.
Su Bo pointed out with joint endeavor of the State Council, local governments, industry association and rare earth enterprises, the target of “establishing standardized orders for rare earth exploration, smelting and separation and market trading, and building an unified, regular and efficient management system for the rare earth industry in 1-2 years” set in the Proposals Regarding Promoting Sustainable and Healthy Development of the Rare Earth Industry promulgated by the State Council in 2011 was generally achieved. The rare earth industry maintains prosperous development, which is mirrored in enhanced management, standardized industry orders, improving operation quality and rising consolidation rate.
Su Bo emphasized that rare earth consumption will grow further in the foreseeable future as global technology advances and strategic emerging industries develop rapidly, and medium-to-heavy rare earth supply will tighten, with international competitions of preliminary rare earth products becoming fiercer. The execution of the Proposals Regarding Promoting Sustainable and Healthy Development of the Rare Earth Industry has entered a crucial stage, focusing emphasis on accelerating industry policy adjustments and standardizing industry management work. The rare earth industry put its emphasis on accelerating construction of large rare earth groups, cracking down on illegal operation, pushing high-end technology researching and industrialization and enhancing construction of regulations and rules this year.
Su Bo also hopes that the Association of China Rare Earth Industry will enhance self-construction, increasing serving ability, and prompting its member enterprises to execute national policies.
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Baotou Steel Rare-Earth Q1 Profits Fall 80%
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- Category: Rare Earth News
- Published on Sunday, 28 April 2013 09:37
- Written by Yuri
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Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-Tech Company released its Q1 earnings report on April 19. Net profits of listed shareholders in Q1 were RMB 245 million, down 79.68% YoY, with profits of RMB 0.101/share.
The company realized business income of RMB 2.296 billion in Q1, down 35.69% YoY. The company attributes the declines to falling rare earth product sales and traded prices on the YoY basis.
With regard to the nearly 80% declines in net profits, the company reported that is because of falling rare earth price and sales, as well as rising costs.
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Inner Mongolia Exports 800.3 Mt of Rare Earth in Q1
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- Category: Rare Earth News
- Published on Sunday, 28 April 2013 09:38
- Written by Yuri
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Inner Mongolia exported 800.3 mt of rare earth in Q1, up 2.4 times from the same period last year.
Rare earth exports in Inner Mongolia have been growing since the starts of the year, with a high of 307.6 mt in March. 800.3 mt of rare earth was exported through general trade, up 2.4 times from the same period last year. Rare earth exports to private and state-owned enterprises were 376.6 mt and 303.6 mt, respectively, with the volume in private enterprises up 38.2 times YoY; above 80% exports were made to US and Japan.
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China Rare Earth Industry Report, 2012-2015
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- Category: Rare Earth News
- Published on Monday, 22 April 2013 09:52
- Written by Yuri
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Research and Markets has announced the addition of the "China Rare Earth Industry Report, 2012-2015" report to their offering.
As the world's major rare earth country, China occupies 50% of the total global rare earth reserves, but also provides about 90% of the global rare earth products every year. In order to protect rare earth resources, it has promulgated a number of policies over the years to limit over-exploitation and export of rare earth, including mining license control, total quantity control, export quotas, special invoice system, etc., whose implementation has caused supply decrease and price increase as far as Chinese rare earth products are concerned.
In China, rare earth consumption can be divided into traditional field and new material field, of which, the former covers metallurgy / machinery, petroleum / chemicals, glass / ceramics, agriculture / light industry / textile, etc., and the latter mainly refers to permanent magnet materials, luminescent materials, polishing materials and hydrogen storage materials. In recent years, driven by downstream demand, the new material field has witnessed rising consumption of rare earth. It is expected that in 2015, the demand for rare earth from new materials will account for 79.8% of the total, of which, magnetic materials will show the largest of 61.3%.
Key Topics Covered
1. Overview of Rare Earth Industry
2. Development Environment of China's Rare Earth Industry 2.1 Global Rare Earth Industry Development 2.2 China's Rare Earth Industry Policy Adjustment
3. China's Rare Earth Industry Development 3.1 Reserves and Distribution 3.2 Development in Major Regions
4. China's Rare Earth Industry Market Supply and Demand 4.1 Supply & Demand 4.2 Export 4.3 Market Price
5. Application of Rare Earth Metals 5.1 Application Structure 5.2 Magnetic Materials 5.3 Hydrogen Storage Material 5.4 Polishing Material 5.5 Luminescent Material
6. Major Rare Earth Enterprises of China
7. Major Rare Earth New Material Enterprises of China
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