Rare earth producers in China lament oversupply and weak demand
Published: Thursday, 03 September 2015
Profits remain hard to come by for Chinese rare earths producers. Low domestic prices and tax changes appear to have led to a boom in rare earths exports, while new energy vehicle markets look set to continue expanding.
China’s largest rare earths
producer, China Northern Rare Earth High-Tech Group Co. Ltd
recorded a net profit of Chinese renminbi (Rmb) 261m ($41m*)
for the first half of 2015, up 1.75% year-on-year (y-o-y).
Turnover rose more substantially, by 35.2% y-o-y to Rmb
3.23bn ($507.2m) for H1 2015. The company...