China Minmetals profits fall 94% in first quarter 2014
Published: Tuesday, 22 April 2014
The fall in profits recorded by the Chinese rare earths producer follows decreasing profits of world-largest producer Inner Mongolia Baotou Steel Rare Earth Hi-Tech Co., clearly indicating a downturn in the Chinese rare earths market, despite an increasing exports in March this year.
China’s major rare earths producer, China
Minmetals Rare Earth Co., saw its net profit falling 94.1% in
Q1 2014, to Chinese renminbi (Rmb) 1.6m ($256,000*).
China Minmetals attributed its falling profits to a bleak