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china rare earths producer extends output halt

by:Newland     2019-09-29
China\'s largest producer of rare earths said it would suspend production at some plants for a month, extending the moratorium that began at the end of October to curb falling prices.
Baotou Rare-
In a statement submitted to the Shanghai exchange, the company said that rare earths would stop burning, smelting and separating rare earths for a month at a plant in Baotou, North of Inner Mongolia.
\"The rare earth market has picked up slightly in two months of production. . . was suspended.
But there is no fundamental change . \"
The company, also known as Baotou Iron and Steel Company in Inner Mongoliaearth (Group)Hi-
In October 23, technology companies began to halt production at almost all of their factories, including two in the eastern province of Jiangxi.
China produces more than 95% of the world\'s total, and 17 elements are the key to producing a series of rare earths.
Technology products including ipad and wind turbines.
Control of wanted people in the country
Post resources--
Through production cap and export quota-
Disputes with major trading partners have been raised.
Price
The oxidation nd of rare earth compounds for ceramics and magnetic materials has dropped to about 300,000 yuan ($48,000)
The official Xinhua news agency said Tuesday that it is less than 1 out of 4 of last year\'s highest point per ton.
Baotou Rare-
Earth implemented a similar month.
In last October, rare earth production stopped for a long time, but failed to reverse the downward trend of global and domestic rare earth prices.
The company said in October that it was third.
Quarterly net profit fell 89.
From 6% to 119 in the same period last year. 9 million yuan.
Its shares closed down 0.
72% to 37.
17 yuan after the announcement.
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