China calls on rare earths companies to bring prices back to 'reasonable' level
BEIJING – China summoned some key rare earths companies amid continuously-rising product prices and urged them to ensure a steady supply chain to help cool prices, the regulator said on Friday.
The Ministry of Industry and Information Technology said in a statement that it had instructed producers including China Rare Earth Group, China Northern Rare Earth and Shenghe Resources to regulate their operation and trading, and to prevent any market speculation or hoarding.
The authority also urged the companies to take a lead in promoting a pricing mechanism for rare earths products and jointly bring prices back to a reasonable range, it said.
Prices of rare earths, a group of 17 minerals used in electric vehicles (EVs) and military equipment, have surged since the second half of 2021 amid concerns of supply uncertainty from Myanmar and strong demand.
The Chinese price of praseodymium-neodymium alloy used to make super strong magnets for EV motors has powered 32% so far this year to 1.38-million yuan ($218 395.90) per tonne.
A price index issued by the Association of China Rare Earth Industry stood at 429.4 on Friday, hovering around its record highs.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation