ALL >> Business >> View Article
China Set To Define Future Market For Rare Earth Metals
China, the world's largest supplier of rare earth, may almost double exports this year, meeting quotas set by the government as lower prices continue to stimulate demand.
Its rare earth industry has an output capacity of approximately 200,000 tons, Chen Zhanheng, a researcher at the Chinese Society of Rare Earths, wrote in a commentary last year.
According to the Ministry of Commerce, Chinese exports were 49 percent of the government-allotted quota in the first eleven months of last year as a result of a slowing global economy sapping demand.
"Export quotas may be met this year as overseas demand recovers," said Wang Caifeng, a former official overseeing the rare earth industry with the Ministry of Industry and Information Technology, in an interview last week.
Signs of this ramp up were evident this week when Jiangxi Copper Co. (HKG:0358), China's largest producer of the industrial metal, announced that it planned to accelerate development of rare earth at a project in the Southwestern Sichuan province to meet export demand.
"Output of rare earth oxide at the Mianning mine will eventually ...
... reach 50,000 metric tons a year," said Chairman Li Yihuang, without providing a set timeframe.
"When the project is completed, Jiangxi Copper will be among the country's three largest rare earth producers."
Despite moves such as these from industry giants, uncertainty within certain factions of the investment community remains. This speculation stems from data compiled by Shanghai SteelHome, which shows that rare earth prices tumbled last year as consumers reduced overall use. The average price of lanthanum oxide, a rare earth used in rechargeable batteries and refining catalysts, was $20,500 a ton in the fourth quarter of last year – a dip of 15 percent on third quarter figures.
Our firm provide annual sales and agent purchasing of Chinese Rare Earths Lanthanum (La), cerium(Ce), praseodymium (Pr), neodymium(Nd), yttrium(Y), samarium (Sm),europium (Eu), gadolinium (Gd),terbium (Tb), dysprosium (Dy), holmium (Ho), erbium (Er), thulium(Tm), ytterbium (Yb), lutetium (Lu) and Rare Metals.
If you want to know more information,please visit our site:http://www.rareearth8.com
Add Comment
Business Articles
1. Building Confidence: The Crucial Role Of Pre-sale And Pre-purchase Inspections In Real Estate TransactionsAuthor: adlercon way
2. Lucintel Forecasts Asic Chip Market To Reach $49 Billion By 2030
Author: Lucintel LLC
3. Best Petrol Pump Management Software In India
Author: Rupasri
4. Stainless Steel 316 Stud Bolt | Astm A193 Ss 316 Studj Bolt- Fas10
Author: Stainless Steel 316 Stud Bolt | ASTM A193 SS 316 S
5. Collar Bolts Fastener
Author: Collar Bolts Fastener
6. The Perks Of Buying A Used Car
Author: Cameron Clark
7. Transform Your Space: Interior Designer In Trivandrum Can Elevate Your Home
Author: VC interiors
8. Your Complete Guide For Purchasing A Vehicle
Author: Cameron Clark
9. Lucintel Forecasts Antimony Trioxide Market To Reach $3 Billion By 2030
Author: Lucintel LLC
10. Abrex 400 Plates Stockists In India
Author: Mukesh Mehta
11. Jindal Steel Sheet Price: Factors And Considerations
Author: Archana
12. Chaveiro Indianópolis
Author: Chaveiro Indianópolis
13. Lucintel Forecasts Agrochemical Market To Reach $489 Billion By 2030
Author: Lucintel LLC
14. Is Swing Barrier Is Streamlined Solution?
Author: Vignesh
15. What Is Esg Report And Its Strategy?
Author: Agile Advisors