China Rare Earth Prices - August 23, 2019

Details: Category: Tungsten's News; Published on Tuesday, 27 August 2019 09:16

China rare earth prices showed a low-level fluctuation in the overall pattern with increased market inquiry but limited trading volumes. Recently, under the strong rectification of inspectors, high temperature and heavy rainfall weather and the “parade of blues”, the total output of most mining enterprises has declined, and the awareness of reluctance to sell has increased.

The tightness expected to increase, the market low-cost supply gradually disappeared, the superimposed traditional consumption off-season is coming to an end, and the downstream magnetic material enterprise procurement plan is gradually emerging, so that market confidence is more effectively boosted.

On August 22, China Minmetals Rare Earth disclosed semi-annual report, the company's operating income in the first half of the year was 1.011 billion yuan, an increase of 245.97%; net profit was 483.919 million yuan, down 28.83% year-on-year; basic earnings per share - 0.05 yuan.

Prices of rare earth products on August 23, 2019

China rare earth prices image