Northern Rare Earth forecasts 2016 profit plunge

By Albert Li
Published: Tuesday, 17 January 2017

China's largest rare earths producer expects to announce drastically lower profits for 2016 due to lower prices and weak demand while the value of rare earths traded on the country's first trading platform reached record highs.

China Northern Rare Earth Hi-tech Co. expects its 2016 annual net profit to plummet by 70-90% in 2016 due to low rare earths prices, insufficient demand, disorderly competition in the market from low-priced sales of illegal products and higher production costs.

The...

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