Low rare earths prices impact Chinese producers

By Antonio Torrisi
Published: Wednesday, 06 August 2014

In a rare earths market affected by sluggish demand and low prices, Chinese major producers see profit badly affected, but those companies that successfully cut costs were able to keep high profits. The industry is still confident Beijing’s new policies will help market revive.

Lower year-on-year (y-o-y) rare earths prices in the first half of this year have affected many Chinese producers’ earnings, but some producers have posted profits by reducing their costs.

Shenghe Resources Holding Co. posted a 71.69% fall year-on-year (y-o-y) in net profit, amounting to Chinese renminbi (Rmb) 7.46m ($1.19m*),...

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