Low rare earths prices impact Chinese producers
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
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*),...