The rebound in Chinese rare earth prices seen at the end of the first quarter of 2012 failed to continue into the second quarter owing to falling demand, according to China’s Finance Eastmoney.
Following a brief rise in March, prices turned downward from April through to June. Low demand may continue into the second half of the year, puncturing hopes of a price recovery.
Two major Chinese rare earth companies have made announcements on how falling prices have impacted their half yearly profits.
Guangdong Rising Nonferrous Metals Group said that its net profit for the first half of 2012 decreased by more than...