Home Sign in Research report Data Center Industry News Custom Research About us
Research report:                          Automotive  |  Electronics  |  Mechanical&Automation  |  New Energy  |  Medical  |  Advanced Materials  |  Building Products  |  Transportation  |  Communication  |  Chemical  |  Finance  |  IT Industry  |  Food  |  Home Appliances  |  Forestry  |  Agriculture  |  Textile  |  Culture Industry  |  Consumer goods  |  Others  |
 Home > Industry News > Metallurgy > Text
The soaring price of rare earths will lead to increased supply of rare earth
Author:Sino-report    Source:China Daily    Number of clicks :     Update time:2011-06-16 09:10
Sino-report News Center Jun 2011

High prices will prompt overseas firms to explore resources: Experts
BEIJING - The world's supply of rare-earth minerals will outstrip demand within five years, reversing global reliance on China's exports as more foreign players begin exploration of their own, industrial executives said.
The soaring price of rare earths will also trigger global players to cash in on the valuable minerals.
More countries with large rare-earth deposits will resume exploration after freezing it for years, which will lead to a global reallocation of the minerals, Wang Hongqian, general manager of China Nonferrous Metal Industry's Foreign Engineering and Construction Co Ltd (NFC), told China Daily.
Consequently, "the current tight-supply situation will not last," Wang said. The State-owned NFC has tapped into Guangdong province, the mid-heavy rare-earth-rich region, by teaming up with local firms.
NFC Southern Rare Earth (Xinfeng) Co, in which NFC owns 76 percent equity, received authorities' approval in May to build the world's biggest ion-type rare-earth separation project, with an annual capacity of 7,000 tons.
Rare earth is the collective name for 17 metallic elements, of which the mid-heavy types are the most valuable because of their wide uses. The metals are needed for some advanced technologies, such as smart phones, hybrid cars and missiles.
China, which supplies more than 90 percent of the minerals, adopted strict exploration and export regulations after rampant exploration caused heavy environmental pollution.
Although it is the world's top rare-earth supplier, China controls only about 36 percent of the world's deposits. Countries with large reserves, such as the United States and Australia, have yet to unfreeze exploration of the minerals.
"More countries participating in the exploration of their own supply of rare earths will help ease the tight-supply situation and ease demand," said Chen Zhanheng, director of academic department, the Chinese Society of Rare Earths (CSRE).
According to the association, China produced 118,900 tons of rare-earth minerals in 2010, more than 30 percent higher than its planned quota.
Chen said that China's export quota will be slashed to about 30,000 tons annually in the coming years, after reaching about 35,000 tons in 2010.
According to announced production targets in other countries, a total of 60,000 tons of rare earths will be produced outside China by 2013 and 170,000 tons by 2015.
Overseas demand for rare earths has stood at an average of 50,000 tons annually in the past few years, Chen said. "Global supply of the minerals, particularly the light-type, which exists in abundant deposits overseas, will soon surpass demand, despite China's curbs on the metals," Chen said.
In addition, more profit-driven players will join in the resurgence of exploration as rare-earth prices keep surging to new heights.
The price of neodymium oxide, a type of rare earth mined mostly in China, has more than doubled since early this year to around 820,000 yuan a ton. The price is more than 11 times higher than that in December 2008.
"The surging prices, based on the anticipation of more stringent policies limiting exploration and production of rare earths in China, magnified the actual supply crunch," said Liu Minda, a non-ferrous metals analyst from a brokerage house based in Jiangsu province.
The industry will attract more profit-driven participants and eventually reverse the current tight supply, NFC's Wang said.
Apart from the domestic market, NFC will expand its overseas growth in natural resources by focusing on West Asia, North Asia, and other neighboring countries of China during the 12th Five-Year Plan period (2011-2015), Wang said.


Order Online
Contact Us
Tel: 400-988-9999
Phone :+8615313587056
Online Consultation
Skype: Please Please
Latest Reports
[Metallurgy] Iron and steel sector gains strength
[Metallurgy] Steel, aluminum tariff receipts flow to US
[Metallurgy] China shines as long-term gold industry leader
[Metallurgy] Steel sector makes headway in capacity reduction
[Metallurgy] Steel sector making good progress in pollution control, say experts
[Metallurgy] Rio Tinto, Minmetals sign JV to explore mineral deposits in China
Popular reports
Iron and steel sector gains strength
Industry Data
China opens market to Kenya's agricultural products
China's publishing industry booming over past 40 years
Industrial Production Operation in July 2018
Total Retail Sales of Consumer Goods in July 2018
National Real Estate Development and Sales in the First Seven Months of 2018
NSDP/SDDS for the People's Republic of China
Market Price of Important Means of Production in Circulation, July 01-10, 2018
In the first five months of 2018, the profits made by industrial enterprises above the designated siz
Purchasing Managers Index for June 2018
Market Price of Important Means of Production in Circulation, June 21-30, 2018
In global EV battery shipments during Jan - Apr 2018, LG Chem and Samsung SDI ranked 4th and 6th
Based on Jan - Apr shipment record, Kia Motors Remain on Top 10 in Global PHEV Power Brands Ranking
Consumer Prices for May 2018
Producer Prices for the Industrial Sector for May 2018
Industrial Production Operation in May 2018
Investment in Fixed Assets for the First Five Months of 2018
National Real Estate Development and Sales in the First Five months of 2018
Producer Prices for the Industrial Sector for April 2018
Stable Performance for the National Economy in April
Total Retail Sales of Consumer Goods in April 2018
Industrial Production Operation in April 2018
National Real Estate Development and Sales in the First four months of 2018
Sales Prices of Residential Buildings in 70 Medium and Large-sized Cities in April 2018
Industrial Profits Increased in the First Four Months of 2018
Industry News
Iron and steel sector gains strength
China’s wines take center stage
Machinery manufacturing fair boosts Sino-Russian ties
Medical device manufacturers display their latest technology
Soybean farmers store crops amid hopes of higher prices
Tourism industry opening on agenda
Tech competition eases startups' access to China market
China's excavator sales grow 44.9% in October
China's solid waste imports continue to slump on tightened ban
Delivery orders jump 25.12% to 1.35b on Singles Day
Related Links
China Rare earths export quota unchanged
International Rare earths production to rise as China limits exports

Sitemap       |       Join Us      |       Customer Service       |       About Sino-report
Copyright © 2011-2025 Sino-report Consult Inc.
No.18 Zhichun Road, Haidian District. Beijing 100089.China
Information and data contained in this site is for reference only pursuant to operate your own risk